UAE’s non-oil overseas exchange registers surge of 27 percent

2022-02-28 02:50:04

(MENAFN) The UAE's non-oil overseas exchange soared 27 per cent on a yearly basis in 2021 to hit Dh1.9 trillion (USD517 billion) as the economic rebound in the Arab world's second-biggest economy increased its speed.

According to Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, tweet on Sunday, non-oil overseas exchange the previous year also rocketed by 11 per cent more than its levels before the pandemic in 2019.

"This rebound proves our economy’s resilience and underlines our status as a major international trade hub," as stated by Dr Thani Al Zeyoudi, Minister of State for Foreign Trade, mentioning that the rise was a "record single-year leap".

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