Sun 18 Feb 2024
The UAE has achieved a monumental milestone in its non-oil foreign trade sector, with the total value of goods and services reaching a historic high of AED 3.5 trillion in 2023.
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, unveiled the latest figures in a post on X, emphasizing the country’s remarkable economic progress.
“Each day in the UAE brings new milestones, thanks to the grace of God. Today, we celebrate the record-breaking non-oil foreign trade figures, which soared to AED 3.5 trillion in 2023, marking a historic achievement despite the global downturn in international trade reported by the United Nations Conference for Trade and Development,” he stated.
Sheikh Mohammed underscored the UAE’s resilience in the face of global economic challenges and attributed the success to forging new pathways of collaboration and partnership.
The UAE surpassed its initial trade projections for the year, bolstered by increased collaboration with its top ten trading partners. Notably, trade with Turkey surged by over 103 percent, while trade with Hong Kong-China and the United States saw significant increases of 47 percent and 20 percent, respectively, within a single year.
Highlighting the UAE’s influential role in the global trade landscape, Sheikh Mohammed reaffirmed the nation’s commitment to maintaining robust economic ties worldwide and delivering on its promises.