Non-oil commerce in the UAE increased by 17% in the first half to exceed $288 billion

The UAE’s non-oil trade reached 1.058 trillion dirhams ($288.06 billion) in the first half of 2022, up 17% from the previous year, the vice president stated in a tweet on Monday.

 

Non-oil trade in the Gulf country surpassed 1 trillion dirhams for the first time, according to Sheikh Mohammed bin Rashid al-Maktoum, the UAE’s prime minister and ruler of Dubai.

 

Non-oil exports increased by 8% in the first half to almost 180 billion dirhams, accounting for roughly 17% of non-oil trade.

 

Imports increased by 19% to approximately 580 billion dirhams, accounting for 55% of non-oil trade. Re-exports increased by 20% to about 300 billion dirhams, accounting for 28% of non-oil trade.

 

‘With large trade deals with India and others, we signalled that we wanted to be at the vanguard of jump-starting a post-COVID economy,’ UAE Minister of State for Foreign Trade Thani Al Zeyoudi said in a statement.