UAE Trade with Partner Countries Soars to AED 390.5 Billion, Marking a 24.5% Growth

The United Arab Emirates has achieved a significant milestone in its trade operations with partner countries as figures soared to AED 390.5 billion, demonstrating a robust growth of 24.5% compared to the previous year, according to recent data.

This impressive performance indicates the UAE’s strong trade resilience and strategic relations with its global partners.

Substantial Growth in Non-Oil Exports

A closer look at the statistics reveals that UAE’s non-oil exports to these nations nearly reached the AED 100 billion mark. This substantial figure contributes to more than 22.1% of the country’s total non-oil exports, underscoring the diversified nature of the UAE economy.

Notably, this segment witnessed a leap of 42.3% compared to 2022 and an even more remarkable 59.8% increase when set against figures from 2021.

Comparative Analysis Over the Years

The data also presents a comparative analysis emphasizing the exponential growth of non-oil trade over the last few years. When contrasted with 2020 and the preceding years, the current trade figures have more than doubled, solidifying the robust expansion of the UAE’s international trade footprint. Furthermore, when comparing with 2018, the value has astonishingly tripled.

Economic Partnership Impact

Countries with comprehensive economic partnerships hold a significant share of this trade, accounting for 15% of the total trade volume. These partnerships are instrumental in fostering a trade-friendly environment and have been pivotal in attaining this level of growth.

In summary, the United Arab Emirates continues to chart a course of rapid growth and diversification in its trading relationships. These impressive numbers reaffirm the nation’s strategic vision in expanding non-oil trade and fortifying economic partnerships around the globe.