UAE breaks records with Dh3.5 trillion in foreign trade amid global downturn
Mohammed: Trade with Turkey surged by 103%, Hong Kong-China by 47%, US by 20%
Dubai: The UAE has achieved a historic milestone with the non-oil foreign trade of goods and services soaring to an unprecedented high of Dh3.5 trillion in 2023.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, stressed that every morning in the UAE brings forth new achievements.
“Today marks a significant milestone as we announce the culmination of our non-oil foreign trade of goods and services, soaring to a historic high of Dh3.5 trillion in 2023,” Sheikh Mohammed tweeted.
“This achievement is a testament to our resilience amid the global downturn in international trade, as reported by the United Nations Conference on Trade and Development,” the Vice President added.
He went on to say that at the beginning of 2023, the UAE foresaw a record-breaking economic year, but the country has exceeded expectations.
“Throughout 2023, the UAE forged new pathways of collaboration through comprehensive partnership agreements, resulting in a remarkable surge in our foreign trade with our top ten trading partners,” Sheikh Mohammed said.
The UAE Vice President clarified that trade with Turkey surged by over 103 per cent, with Hong Kong-China by 47 per cent, and with the United States by 20 per cent, all within a single year.
“Today, the UAE stands as a pivotal player in the international trade arena, maintaining steadfast economic engagements with partners worldwide. Our commitment remains unwavering, encapsulated in our steadfast motto: to speak what we do and do what we say,” Sheikh Mohammed added.