Dubai Ruler Sheikh Mohammed bin Rashid confirmed that the UAE’s non-oil trade achieved a quantum leap in the first half of 2022, surpassing one trillion dirhams, recording a growth rate of 17% over the last half of the year. 2021.
Sheikh Mohammed bin Rashid said: “For the first time in the history of the UAE, non-oil foreign trade crossed the one trillion dirham ($272 billion) barrier in just half a year … and reached one trillion 58 billion dirhams, an increase of 17 percent compared with the previous half year. And for the UAE to prove to the world that international trade is back on track after the worst pandemic humanity has ever experienced.”
He added: “Our economic growth is progressive and sustainable, our trading environment is the best, our infrastructure is unrivaled in any country, and our economic approach is stable, fair and inclusive. We are giving everyone the good news that the future is more beautiful… and that our economic growth is geared towards providing a better life for our people, God willing.”
The UAE’s non-oil foreign trade continued to grow, setting a new record in the first half of this year at AED 1 trillion 53 billion for the first time in its history, with a growth rate of 17 percent compared to the first half of 2021, and an increase of 25 percent and 35 percent compared to the same period in 2020 and 2019, respectively.
The fact that the UAE’s non-oil foreign trade passed the trillion dirham barrier in the first half of 2022 confirms the success of the strategic directions and visions in accelerating a full recovery and returning to the desired economic recovery after the country has overcome the negative impact of the spread of the Covid-19 pandemic on the international trade in general.
The UAE is looking to expand its network of trading partners and strengthen its position as a major gateway for trade flows between the world, while these unprecedented records coincide with the UAE’s continued strengthening of its international partnerships with strategic markets around the world, thus strengthening the country’s position in as the main gateway for trade flows and logistics.
(Dollar = 3.67 United Arab Emirates dirhams)