UAE’s non-oil trade reached Dhs3.5 trillion in 2023

Mahmoud Ads, Staff Reporter

His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Sunday morning announced on the 'X' platform a new record achieved by the UAE through its non-oil foreign trade, which touched Dhs3.5 trillion in 2023.

In his statement on “X” platform, Sheikh Mohammed said, “It's clear that the UAE is a force to be reckoned with, achieving new milestones every day! Today, our non-oil foreign trade in goods and services reached an incredible new record of Dhs3.5 trillion in 2023. This achievement is even more impressive considering the global decline in international trade. According to reports from the United Nations Conference on Trade and Development (UNCTAD), we have exceeded our own predictions at the beginning of 2023 and have had a truly remarkable economic year.”

He continued, “In 2023, the UAE established new partnerships through comprehensive agreements, resulting in a remarkable 26% increase in foreign trade with our top ten trading partners. Trade with Turkey skyrocketed by over 103%, with Hong Kong-China by an impressive 47%, and with the United States by a solid 20% within a single year.”

His Highness Sheikh Mohammed bin Rashid Al Maktoum proudly stated that the UAE is now at the very centre of the international trade movement.

“We are absolutely committed to honouring our economic commitments. Our motto has always been to be true to our word, and we will continue to uphold that standard,” Sheikh Mohammed added.