The UAE non-oil trade hit 1.58 trillion dirhams in the first half of 2022, climbing by 17 percent compared to the same period last year, the gulf country’s vice president said on Monday in a tweet.
Sheikh Mohammed bin Rashid Al Maktoum wrote, “For the first time, our non-oil foreign trade exceeded 1 trillion dirhams in just half a year… with a growth of 17 percent over the first half of this year, proving to the world the recovery of the international trade after the most difficult pandemic that the world has passed through.”
Sheikh Mohammed bin Rashid Al Maktoum added: “Our economic growth is progressive and solid, our trade environment is the best, our infrastructure is matchless, and our economic approach is consistent, fair, and open to everyone… We are optimistic about the future.”
According to preliminary official data released by the UAE Ministry of Economy, the country’s non-oil exports set an unprecedented record during the first half of 2022, reaching around 180 billion dirhams for the first time in its history, with a growth rate of 8 percent compared to the same period in 2021, and an increase of 8 percent compared to the same period in 2021. Non-oil exports increased by 53 percent compared to the first half of 2020, and 50 percent compared to the same period in 2019, with a growth rate of 69 percent compared to the same period in 2018. Moreover, it nearly doubled during the first half of 2022 compared to the same period in 2017.
