UAE’s non-oil trade surges to Dh1.9 trillion in 2021, says Sheikh Mohammed

File Phot: Sheikh Mohammed

TGO News Service: The UAE’s non-oil foreign trade in 2021 registered a jump of 27 per cent over the previous year to reach Dh1.9 trillion, the country’s Vice-President has said.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, took to Twitter to highlight that the country’s post-Covid recovery has been strong.

“Our economic growth trajectory is going up and our dependence on oil is decreasing. The future looks beautiful and more sustainable,” Sheikh Mohammed tweeted on Sunday.

Statistics released earlier indicate a significant growth in the UAE’s non-oil foreign trade.

In a report released in December 2021, the Federal Competitiveness and Statistics Centre (FCSC) had said that the total value of the UAE’s non-oil trade over the past 50 years stood at Dh18.3 trillion. These include Dh11.8 trillion in imports, Dh2.2 trillion in non-oil exports, and Dh4.3 trillion in re-exports.

In terms of value, over the past 10 years, imports grew by 5.8 per cent on average; non-oil exports by 13.3 per cent; and re-exports by 9.6 per cent.