UAE's non-oil foreign trade exceeds AED3.8 trillion in historic first

The UAE's non-oil foreign trade has exceeded AED 3.8 trillion ($1 trillion) for "the first time in its history", His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced on Saturday.

It marks a 26 per cent increase over the previous year, Sheikh Mohammed said on social media, after "reviewing the results of the foreign trade report".

He highlighted that the non-oil exports surpassed AED 813 billion, marking "an exceptional growth of 45 per cent over the previous year".

Sheikh Mohammed said the UAE had set to achieve "these figures" by 2031, but achieved "95 per cent" of that target five years before the deadline.

His Highness highlighted that the country's "international partnerships have doubled... Our partnerships with the private sector have been strengthened... And the world's confidence in the UAE has been solidified".

Sheikh Mohammed congratulated the "national teams" and urged them to "double the efforts... And solidify the partnership with the private sector to build a better economic future".

 

More from Business News

On Virgin Radio today

Trending on Virgin Radio