Business | Economy
UAE posts Dh250b trade surplus in 2007
The UAE posted a trade surplus of about Dh250 billion, with re-exported goods valued at Dh200 billion in 2007, UAE Minister of Foreign Trade Shaikha Lubna Al Qasimi told the British Business Group yesterday.
- Staff Report
- Published: 00:22 March 28, 2008
Dubai: The UAE posted a trade surplus of about Dh250 billion, with re-exported goods valued at Dh200 billion in 2007, UAE Minister of Foreign Trade Shaikha Lubna Al Qasimi told the British Business Group yesterday.
The minister spoke of the UAE's plans for sustained economic growth and progress, in partnership with the UK. The nation's investment revenues are currently one of the highest in the world, she said.
The country's non-hydrocarbon revenues are expected to grow to Dh179.8 billion by 2012. National gross domestic product is expected to increase 60 per cent from Dh678.9 billion in 2007 to Dh1 trillion by 2012, depending on oil revenue increase of only a 9 per cent annually to Dh300 billion, she said.
UAE supplied Dh7.3 billion (around one third of the region's Dh24 billion) worth of exports to the UK. Dubai accounted for the highest share at 66 per cent. Over 85 per cent of trade between the two countries is conducted through Dubai and the northern emirates, according to industry reports.
The UK has identified the UAE as one of the key emerging markets where it plans to intensify trade and investment relations.
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