The UAE has accomplished a significant feat in its overseas non-oil trade sector, with the value of goods and services hitting a new peak of AED 3.5T in 2023.
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, disclosed the latest figures in a 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.
The UAE has created fresh avenues for collaboration through extensive partnership agreements, as stated by Sheikh Mohammed. He underscored the nation’s ongoing advancement and pointed out that the accomplishment showcased resilience amid the global decline in international trade.
Surpassing its initial expectations for the year, the UAE credited its success to establishing new partnerships and collaborations, leading to a rise in trade with its top ten trading partners, according to Arabian Business.
Sheikh Mohammed reported a notable surge in trade with Turkey by over 103%, an increase of 47% in trade with Hong Kong-China, and a 20% rise in trade with the United States within a single year.
The leader of Dubai emphasized the UAE’s influential role in the global trade landscape, sustaining robust economic connections with partners worldwide. He reiterated the nation’s dedication to upholding its promise-keeping motto.
