UAE’s non-oil trade back to significant growth

Gold exports in first six months show added sparkle at Dh70b plus

The UAE’s non-oil foreign trade recorded a 27 per cent growth in the first six months signalling a rapid recovery and return to growth trajectory. This also indicates a 6 per cent growth in the country’s nonoil foreign trade compared to the pre-pandemic level in 2019.

According to the Ministry of Economy, the total value of the country’s non-oil foreign trade amounted to nearly Dh900 billion, with the value of non-oil exports alone at Dh170 billion, posting a growth of 44 per cent compared to first-half 2020. The contribution of non-oil exports to the country’s total non-oil foreign trade during the same period grew to 19 per cent from 16.6 per cent in 2020.

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said that non-oil trade data shows significant growth over the past two years, despite the pandemic’s impact on the global trade movement.

Forward-looking vision

“These indicators confirm the efficiency of the forwardlooking vision and proactive plans implemented by the UAE. It shows the country’s success in developing flexible, open and long-term policies to maintain the attractiveness of its trade and business environment.

“These efforts consolidate the UAE’s position as a leading and competitive trade hub connecting the East and West and a major player in ensuring the continuity and growth of global supply chains. What we see today is a testament to the success of our efforts in this direction.”

The value of UAE’s gold exports exceeded Dh70 billion in first six months of 2021, while the rest of the non-oil exports except gold totalled Dh98 billion with a growth of 42 per cent on H1-2020.

The total value of the country’s non-oil foreign trade amounted to nearly Dh900 billion.