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UAE’s non-oil trade grows 17% YoY in H1

UAE’s non-oil trade grows 17% YoY in H1

Arab Finance: The UAE’s non-oil trade exceeded the AED 1 trillion mark for the first time in history, growing by 17% year-on-year (YoY) in the first half (H1) of 2022 to AED 1.58 trillion, according to a tweet posted by Vice President Mohammed bin Rashid Al Maktoum on August 22nd.

Non-oil exports increased by 8% YoY, recording AED 180 billion in H1 2022 and accounting for 17% of the country’s total non-oil trade.

Meanwhile, the country’s non-oil imports reached AED 580 billion in the January-June period of 2022, contributing to the total non-oil trade by 55%.

Re-exports made up 28% of non-oil trade in H1 2022, almost hitting the AED 300 billion mark for the first time in history.

 

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