UAE’s non-oil foreign trade exceeds AED1 trillion in first half of 2022
The UAE’s non-oil foreign trade exceeded AED1 trillion (c. USD272.25 billion) for the first time in first half of 2022. It was an important milestone for the UAE government, which has a special focus on economic diversification, employment and expansion.
The total of AED1.053 trillion reflected a growth rate of 17% compared to the first half of 2021, and an increase of 25% and 35% compared to the same period in 2020 and 2019 respectively.
During the first half of 2022, the UAE’s non-oil exports reached about AED180 billion, a growth rate of 8% compared to the same period in 2021 and an increase of 53% over the first half of 2020. It nearly doubled compared to the same period in 2017.
In respect of re-exports, the UAE also approached the AED300 billion mark for the first time in the first half of 2022; an increase of 20% and 51% over the same periods in 2021 and 2020 respectively. At the same time, the UAE’s imports reached a record of almost AED580 billion during the first half of 2022, an increase of 19% and 49% over the same periods in 2021 and 2020.
The contribution of imports from the UAE’s non-oil trade decreased to 55%, while the share of non-oil exports grew to 17% and the share of re-exports reached 28%.
UAE Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi said the forward-looking plans and various initiatives undertaken by the UAE to develop and diversify its exports had a significant impact in achieving this record growth in trade performance in just six months.
