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In 2023, the UAE's non-oil foreign trade reached a historic high of 3.5 trillion dirhams ($953 billion), soaring from 2.2 trillion dirhams the previous year. Trade with the nation's top 10 foreign partners surged by 26 percent, with notable increases in exchanges with Turkey, Hong Kong-China, and the United States. The UAE's ruler, Sheikh Mohammed bin Rashid Al-Maktoum, celebrated these achievements, emphasizing the nation's resilience in setting new records despite global challenges and highlighting the establishment of comprehensive partnership agreements. Minister of State for Foreign Trade Thani Al-Zeyoudi further elaborated on the milestone, noting that the UAE surpassed the 1 trillion dirhams mark for exports of goods and services for the first time. Non-oil exports now constitute 17.1 percent of total non-oil foreign trade, reflecting a steady increase from 13 percent in 2018. Bilateral trade with Turkey experienced remarkable growth, fueled by the signing of a Comprehensive Economic Partnership Agreement. The UAE's Ministry of Economy data revealed a continuous upward trend in foreign trade, with quarter-on-quarter increases since 2020. #UAEEconomy #ForeignTrade #RecordTrade #EconomicGrowth #BilateralTrade #PartnershipAgreements #UAEExports #TradeMilestones

UAE's Non-Oil Foreign Trade Hits Nearly $1 Trillion in 2023. In 2023, the UAE's non-oil foreign trade soared to a staggering 3.5 trillion dirhams ($953 billion), marking a substantial increase from the previous year's 2.2 trillion dirhams. Dubai's ruler, Sheikh Mohammed bin Rashid Al-Maktoum, celebrated the achievement on social media, emphasizing the UAE's resilience amid global challenges. "We indicated at the beginning of 2023 that it would be a record economic year," Al-Maktoum stated, highlighting the nation's continued growth despite adversities. The UAE forged new partnerships, witnessing a remarkable 26 percent expansion in trade with its top 10 foreign partners. UAE's Minister of State for Foreign Trade, Thani Al-Zeyoudi, revealed that the nation surpassed the 1 trillion dirhams mark for exports of goods and services for the first time. "Non-oil exports of goods now make up 17.1 percent of our total non-oil foreign trade," Al-Zeyoudi added. Bilateral trade with Turkey, fueled by a Comprehensive Economic Partnership Agreement, skyrocketed by 103.7 percent, showcasing the benefits of enhanced economic collaboration. Additionally, the UAE's non-oil foreign trade surged to an unprecedented 1.239 trillion dirhams in the first half of 2023, continuing the nation's upward trajectory in global trade. #UAETrade #ForeignTrade #EconomicGrowth #GlobalTrade #UAEExports #BusinessExpansion #TradePartnerships #NonOilTrade #TradeTrends #EconomicDevelopment #MarketGrowth #InternationalTrade #BusinessOpportunities #InvestmentClimate #ExportSuccess #TradeRelations #EconomicAchievements #TradeAgreements #ExportIndustry #UAECommerce

🇸🇦🇦🇪 Saudi Arabia's 93rd National Day: A Reflection on UAE-KSA Bilateral Relations To the esteemed leaders and citizens of Saudi Arabia, congratulations on the occasion of the 93rd National Day. Saudi Arabia, a nation deeply rooted in history and culture, exemplifies transformative progress and modernity. This evolution, particularly evident in economic and societal arenas, is a reflection of the visionary leadership of His Majesty King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud. Bilateral Economic Overview: 1. Trade Dynamics (2022): ✨The UAE-KSA trade witnessed a 28% growth, reaching AED 137.51 billion, a significant increase from AED 107.41 billion in 2018. ✨The trade composition in 2022 was as follows: AED 34.31 billion in imports, AED 36.01 billion in non-oil exports, and AED 67.18 billion in re-exports. ✨Five-Year Non-Oil Trade Overview: Cumulative non-oil trade between our nations over the past five years stands at AED 586.75 billion. 2. Trade Highlights (2022): ✨UAE's imports from Saudi Arabia grew by 23% from 2018, amounting to AED 34.49 billion. ✨Non-oil exports to Saudi Arabia rose by 14%, reaching AED 35.96 billion. ✨Re-exports to Saudi Arabia escalated by 40%, totaling AED 67.16 billion. 3. Positioning in Bilateral Trade (2023): ✨Saudi Arabia ranks as the UAE's third-largest non-oil export destination. ✨UAE's imports from Saudi Arabia constituted 25% of the total non-oil bilateral trade, while our national exports and re-exports accounted for 75% in 2022. ✨The UAE remains a crucial re-export market for Saudi Arabia, standing as its second-largest export destination and third-largest source of imports. UAE and KSA share a bond that transcends mere economic metrics. The robust economic, trade, and investment collaborations across diverse sectors underscore our mutual commitment to the shared vision of growth and prosperity. As Saudi Arabia celebrates this momentous day, UAE and KSA continues to deepen their ties and work collaboratively towards a prosperous future for both nations. #UAESaudiPartnership #GulfUnity #saudinationalday #strategicpartners

UAE nears $1tn in non-oil foreign trade in 2023. The United Arab Emirates' non-oil trade reached a record high of 3.5 trillion dirhams ($952.93 billion) in 2023. Trade in non-oil goods rose 12.6% from the previous year, while exports of goods and services surpassed 1 trillion dirhams to set a new record. UAE's bilateral trade with Turkiye, which saw the signing of a Comprehensive Economic Partnership Agreement in March, increased by 103.7 percent last year. “Making it the fastest growing among our top 10 trading partners and revealing the benefits of closer economic ties,” he added. "(This) confirms that economic diversification plans are moving in the right direction towards a future economy based on knowledge and innovation and reflects the growing international confidence in the UAE’s economy.

Thrilled to share that the UAE's non-oil foreign trade reached an all-time high of $953 billion in 2023! With a 26% growth in trade with our top 10 partners, the UAE's economic diversification efforts are paying off. Exciting times ahead as we continue to strengthen global partnerships and drive economic growth! #UAEEconomy #TradeRecord #EconomicDiversification #GlobalPartnerships #EconomicGrowth #UAETrade #InternationalTrade 📈💼🌍

UAE's Non-Oil Foreign Trade Records Striking AED 1.239 Trillion in H1 2023, Ushering in Unprecedented Economic Growth In a remarkable economic milestone, the UAE's non-oil foreign trade has witnessed an astounding surge, soaring to AED 1.239 trillion in the first half of 2023. This remarkable achievement showcases the UAE's resilience and unwavering commitment to advancing its global trade footprint. The figures exemplify the nation's pivotal role as a prominent player in the international trade arena, contributing significantly to global commerce and economic growth. #UAE #EconomicSurge #Economy #MiddleEast #CargoTalk #CargoTalkMiddleEast #CargoNews #BusinessNews #News

UAE's non-oil foreign trade has soared to record heights, surpassing AED 3.5 trillion in 2023. Demonstrating resilience and strategic growth, there were significant contributions from gold exports and robust partnerships. Read more here: https://zurl.co/yK3M #UAE #Trade #Growth #Economy

Mohammed bin Rashid: UAE Achieves Historic Milestone with Non-Oil Foreign Trade Exceeding AED3.5 Trillion in 2023 His Highness Sheikh Mohammed bin Rashid affirmed the UAE's unwavering economic commitments to everyone continuously, announcing a groundbreaking achievement as the country's non-oil foreign trade of goods and services surpassed AED3.5 trillion in 2023. This marks a historic milestone in the nation's economic history, especially noteworthy considering the challenges posed by the global downturn in international trade, as reported by the United Nations Conference on Trade and Development. In 2023, the UAE demonstrated remarkable resilience and growth, with the services trade surplus expanding to AED207 billion, a substantial increase from AED96.26 billion in 2021. This upward trajectory underscores the nation's growing influence in global service exports. Key sectors, including travel and tourism, ICT, professional and financial services, education, medical tourism, Islamic financial services, the creative economy, and logistics, played pivotal roles in contributing to this noteworthy expansion. Sheikh Mohammed bin Rashid emphasized that despite the global challenges, the UAE remains committed to fostering economic prosperity on a global scale. https://lnkd.in/dBpVDGyY #uae #uaebusiness #uaerealestate #ecommerce #economynews #investments #dubaibusiness #logistics #trade #supplychain