Tuesday 29 November 2022 - 4:32:57 am

UAE non-oil trade stood at AED18.3 trillion over 50 years: FCSC report

ABU DHABI, 7th December, 2021 (WAM) -- The total value of UAE’s non-oil trade over the past 50 years stood at AED18.3 trillion (US$5 trillion), including AED11.8 trillion in imports, AED2.2 trillion in non-oil exports, and AED4.3 trillion in re-exports, according to the Federal Competitiveness and Statistics Centre (FCSC).

The contribution of non-oil exports and re-exports to the UAE’s total non-oil foreign trade grew from 24 percent in 1999, to 36 percent in 2010, and 43 percent and 44 percent in 2019 and 2020 respectively, indicating a significant growth in the UAE’s non-oil foreign trade.

In terms of value, over the past ten years imports grew by 5.8 percent on average, non-oil exports by 13.3 percent and re-exports by 9.6 percent, bringing the total value of the UAE’s non-oil foreign trade in 2020 to AED1.4 trillion (US$382 billion). In comparison, UAE’s total non-oil foreign trade in 1971 stood at AED1.1 billion, in 1991 at AED69.2 billion, and in 2011 at AED927.6 billion.

WAM/Lina ibrahim/MOHD AAMIR