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UAE's Non-Oil Foreign Trade Totals Nearly AED 1.9 trillion in 2021, with 27% Growth Compared to 2020 & 11% Compared to 2019
 

National non-oil exports set a new record of AED 354 billion, with a growth of 33% from 2020 and more than 47% from 2019

Abu Dhabi - 28 February 2022: The total value of the UAE’s non-oil foreign trade in 2021 amounted to nearly AED 1.9 trillion, reflecting a 27% growth compared to that of 2020, and by 11% compared to that of 2019, as the growth was consistent across all areas of trade including exports, imports and re-exports. The individual non-oil foreign trade figures of all emirates of the country also witnessed growth in varying degrees, which reflects the comprehensive growth achieved by the UAE’s global trade.

The value of national non-oil exports amounted to about AED 354 billion, setting a new record, exceeding AED 300 billion for the first time in its history, achieving a growth of 33.3% compared to that of 2020 and 47.3% compared to that of 2019.

H.E. Abdulla Bin Touq Al Marri, Minister of Economy, affirmed that the country’s non-oil foreign trade performance once again proves that the UAE, thanks to the support and directives of its wise leadership, is among the most vital and active trade and business hubs regionally, which also boasts an important position on the global trade landscape. He added that the comprehensive growth achieved by the country's trade across all its areas is a result of the forward-looking vision of the UAE’s wise leadership and proactive government policies to enhance the country's commercial attractiveness and diversify and expand its trade partnerships with global markets.

H.E added: 'The UAE's foreign trade has by far passed the stage of recovery from the impact of the Covid-19 pandemic on global trade and has entered an advanced stage of growth and prosperity today, with more than 11% growth compared to the pre-pandemic stage. The all-encompassing nature of the positive results of import and export activities and re-exports in all the emirates of the country reflects a systematic and integrated growth based on flexible and highly efficient trade policies and sustainable development measures.”

H.E Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, noted that the non-oil foreign trade data that was recorded for the year 2021 is a real achievement and a new milestone for this vital sector, which is a major driver of the growth of the national economy and one of the pillars of its prestigious reputation on the trade and economy landscape, both regionally and globally. H.E added: 'Thanks to the support of the wise leadership, the past two years have witnessed good growth rates in trade activities, which are taking a more positive trend today, reflecting the increasing growth in the country's foreign trade movement in general and the promotion of national non-oil exports in particular, which is still continuing its during 2019 and 2020.”

H.E added: 'These results come in light of the launch of the Projects of the 50 and the continuous efforts being implemented by the country to enhance its position on the international trade map and ensure an attractive, active and open commercial environment to the world and linked to a diverse and strong network of global supply chains. These efforts have laid solid foundations to sustain the growth of the country's foreign trade over the coming years. There is no doubt that these results will further enhance confidence among business owners and economic and commercial activities in the country, as well as trading partners from different countries of the world, in the importance of the UAE as a capital of trade and highlight the capabilities and opportunities that the country possesses to engage in activities and businesses.

Trade figures for 2021 showed that the total value of re-exports amounted to AED 521.3 billion, achieving a growth of 27.7% compared to 2020 and 1.6 percent compared to 2019. Meanwhile, the total value of the country's imports during 2021 amounted to about AED 1 trillion, showing a growth of 23.8% over the year 2020, and about 7% from 2019.


Trade Partners

China ranked first as the country's largest trading partner in 2021, accounting for 11.7% of the UAE's total foreign trade with the world, and the value of non-oil trade exchange between the two countries amounted to AED 212 billion, a growth of 27% from 2020 and 19.8% from 2019. India ranked second, which accounts for 8.7% of the country's total non-oil trade, with a value of AED 164.4 billion, followed by Saudi Arabia in the third position with a contribution of 6.6% and a value of 125 billion during 2021, achieving a growth of 20% compared to 2020 and 10.1% compared to 2019. Fourth place is the United States of America, with which trade exchange has grown by 8.1% compared to 2020. Iraq ranked in the fifth place.


About the country's export destinations, India emerged as the top destination, accounting for 13.8% of the country's total exports, and receiving AED 50 billion of UAE exports, a growth of 150% from 2020 and about 100% from 2019. KSA became second largest recipient of the UAE exports, with a contribution of 10.7%. It received AED 38 billion of the country's exports, achieving a growth of 48% compared to 2020 and by 22.4% compared to 2019. 


Posted by : DubaiPRNetwork.com Editorial Team
Viewed 6917 times
PR Category : Energy and Industry
Posted on : Monday, February 28, 2022  11:45:00 AM UAE local time (GMT+4)
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