The Vice President of the UAE and Prime Minister, Mohammed bin Rashid, confirmed that the non-oil foreign trade of the UAE continued to record unprecedented growth levels in the first half of 2023, maintaining its upward trajectory. Sheikh Mohammed bin Rashid stated: "In a new economic achievement for the UAE, our non-oil foreign trade has reached a new record of 1.239 trillion dirhams within just six months this year. Our non-oil exports also saw substantial growth, surpassing what we achieved in an entire year just five years ago."
He added: "The country's non-oil exports to the top 10 global trading partners increased by 22 percent this year, and intra-trade with Turkey, for example, surged by 87 percent within just one year, indicating the soundness of our balanced, proactive, and positive foreign policies led by the President of the UAE."
The Dubai ruler also projected an increase in the UAE's non-oil foreign trade to 2.5 trillion dirhams, stating: "Our non-oil foreign trade will exceed 2.5 trillion this year... We will achieve the target we announced of reaching 4 trillion dirhams by 2031. As we predicted earlier, 2023 will be the best economic year in the history of our nation. The country will continue to be a key player in international trade, solidifying its position as one of the most important global hubs connecting the East to the West and the North to the South."
The UAE's non-oil foreign trade recorded an unprecedented new figure in the first half of 2023, exceeding 1.239 trillion dirhams, growing by 14.4% compared to the same period in 2022, and increasing by 3% compared to the second half of last year. China maintained its position as the leading trading partner of the UAE globally, followed by India in second place, and the United States and Saudi Arabia in third and fourth places, respectively. Turkey ranked fifth, with the comprehensive economic partnership agreement between the UAE and Turkey set to come into effect soon. The sixth to tenth positions were occupied by Iraq, Switzerland, Japan, Hong Kong, and the Russian Federation, respectively.
