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ABU DHABI / WAM
The UAE Ministry of Economy has said that the value of the UAE’s non-oil foreign trade reached AED1.75 trillion (US$476.4 billion) in 2015, a growth of up to 10 percent from 2014, according to its report. The figures in the first half of 2015 are positive indicators for the UAE’s foreign trade, including direct trade.
In its report, the Ministry of Economy pointed out that the figures show a rise in the country’s competitiveness as a capital of regional trade, noting that the volume of the UAE’s non-oil trade (inclusive of free zones trade) was valued at AED1. 632 trillion (US$444.3 billion) in 2014, while its direct trade totalled AED1.072 trillion ($291.9 billion), and the value of imports reached AED696.4 billion ($189.6 billion). World Trade Organisation, WTO, figures show that the UAE’s exports amounted to AED132.2 billion ($36 billion) and re-exports totalled AED243.7 billion ($66.3 billion).
The Ministry of Economy also noted that the raise in the volume of UAE trade zones in 2014 amounted to about AED560 billion ($152.4 billion), confirming that the country managed to achieve the top rank in International Trade Statistics for 2015 released by the WTO.