(MENAFN) The non-oil international trade of the United Arab Emirates hit a record of Dh2.23 trillion (USD607.1 billion) in 2017, as the second-largest economy in the Arab world accelerated efforts to lessen its reliance on hydrocarbons and expanded its worldwide economic alliances.
The non-oil international trade of the UAE exceeded Dh2 trillion for the first time this year, with values for the period of January to December rising by more than 17 percent from the same period in 2021.
According to UAE Minister of State for Foreign Trade Dr. Thani Al Zeyoudi, "The UAE's non-oil foreign trade shattered all records in 2022."
“Amid global challenges, the UAE has cemented our status as a major trading hub, a gateway to the world, and a global market … we will continue to work on extending our trade partnerships and help define the future of trade,” Mr Al Zeyoudi added.
The UAE's major trading partner at that time was China, which has the largest economy in Asia, with bilateral commerce between the two nations totaling Dh264.5 billion. Saudi Arabia (Dh135.2 billion), the US, and India (Dh180.9 billion) came next (Dh110 billion).
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