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Abu Dhabi / WAM
The UAE’s non-oil foreign trade in the first quarter (Q1) of 2022 was close to AED500 billion for the first time in the country’s history, totalling AED499.7 billion, a growth of 20.5 percent compared to AED414.6 billion recorded in the same period of 2021, according to the Federal Competitiveness and Statistics Centre.
This figure is also up 26.3% compared to the same period in 2019.
The centre’s data highlighted China’s leadership in the list of top 10 countries trading with the UAE in Q1 2022, valued at AED57 billion, followed by India with AED46.2 billion, and Saudi Arabia with AED32.5 billion.
Gold topped the list of leading commodities included in the UAE’s non-oil foreign trade, with a value of AED84.4 billion and accounting for 17 percent of the country’s total non-oil foreign trade, followed by diamonds with a value of AED40 billion, telephone and communication devices with a value of AED37 billion, mineral oils with a value of AED24.6 billion, ornaments and jewellery with a value of AED21 billion, and cars with a value of AED19.5 billion.
UAE non-oil trade over 10 years hit AED16.14 trillion Dr Thani bin Ahmed Al Zeyoudi, Minister of State for
Foreign Trade, announced recently that the UAE’s non-oil trade over 10 years totalled AED16.14 trillion.
In an interview with the Emirates News Agency (WAM), he stressed that country’s growth returned to pre-pandemic levels.
“We work according to the plans of the UAE’s leadership to double national exports, foreign trade and economic growth,” Al Zeyoudi said, highlighting the fact that the UAE aims to increase the level of investment coming to the country to AED1 trillion within nine years, an increase of AED550 billion.
Presenting the country’s foreign non-oil trade figures for 2012-2021, he stated that the total UAE’s non-oil exports exceeded AED2.154 trillion, an annual growth rate of 12%, and added that the value of re-exports is close to AED4.5 trillion, an annual growth rate of 4.9%.
The UAE’s total imports during the same period accounted for AED9.5 trillion, an annual growth rate of 2.5%. Moreover, contribution of UAE’s non-oil exports to country’s foreign trade rise from 12% in 2012 to 19% in 2021.
, an average growth in non-oil exports that reached three times the average growth of the UAE’s total non-oil trade.