UAE achieves historic milestone with record non-oil trade of $952bn: Sheikh Mohammed
Sheikh Mohammed bin Rashid Al Maktoum, the Vice-President and Prime Minister of the UAE and Ruler of Dubai, revealed the latest figures in an X post on Sunday
“Every morning in the UAE brings a new achievement, thank God… as we received today the numbers of our non-oil foreign trade in goods and services, which reached a new level of 3.5 trillion dirhams in 2023, for the first time in the country’s economic history, despite the global decline in international trade according to reports from the United Nations Conference for Trade and Development,” he said.
UAE forged new pathways of collaboration through comprehensive partnership agreements, says Sheikh Mohammed
Sheikh Mohammed highlighted the country’s continuous progress and highlighted that the achievement demonstrated resilience in the face of the global downturn in international trade. The UAE surpassed its initial expectations for the year and attributed its success to forging new partnerships and collaborations, resulting in an increase in trade with its top ten trading partners. Trade with Turkey saw a remarkable surge of over 103 percent, while trade with Hong Kong-China increased by 47 percent and with the United States by 20 percent within a single year, Sheikh Mohammed said. The Dubai ruler also highlighted the UAE’s position as an influential player in the international trade arena, maintaining strong economic ties with partners globally, and reaffirmed the country’s commitment to its motto of delivering on its promises.
