UAE non-oil trade breaks trillion-dirham mark for the first time

The UAE’s non-oil trade rose 17 percent to AED 1.58 trillion ($431 billion) in the first half of 2022 – the first time it hit more than a trillion dirhams.

“Our economic growth is progressive and solid, our trade environment is the best, our infrastructure is not unmatched by any country, and our economic approach is stable, fair and open to everyone,” the country’s vice president and ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum said.

Non-oil exports were up 8 percent at AED 180 billion in the same period, while non-oil imports jumped 19 percent to AED 580 billion, he said in a tweet.

Re-exports almost hit AED 300 billion, or an increase of 20 percent year-on-year.

“Once again, the UAE has proven to the world the recovery of international trade after the most difficult pandemic that humanity has gone through,” Sheikh Mohammed said.