Abu Dhabi: UAE’s non-oil trade has totaled Dh16.14 trillion over 10 years, Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said on Thursday, adding that the country has plans to increase investment coming into the country to Dh1 trillion in nine years.
He also stressed that the country’s growth has returned to pre-pandemic levels.
Sharing the country’s foreign non-oil trade figures for 2012-2021, he stated that UAE’s total non-oil exports exceeded Dh2.154 trillion, an annual growth rate of 12 per cent, and added that the value of re-exports is close to Dh4.5 trillion, an annual growth rate of 4.9 per cent.
The UAE’s total imports during the same period accounted for Dh9.5 trillion, an annual growth of 2.5 per cent. Moreover, the contribution of the UAE’s non-oil exports to the country’s foreign trade surged from 12 per cent in 2012 to 19 per cent in 2021, an average growth in non-oil exports that reached three times the average growth of the UAE’s total non-oil trade.
“We work according to the plans of the UAE’s leadership to double national exports, foreign trade and economic growth,” Al Zeyoudi said.
He also noted that many initiatives are being implemented to encourage exports and cooperation with business leaders, continuous exchange of data to ensure easy access to local market information, draft strategies for the services sector, and attract skills and talents to boost local efforts and achieve the integration of expertise.