(MENAFN- Kuwait News Agency (KUNA)) ABU DHABI, Aug 30 (KUNA) -- Vice President, Prime Minister of the United Arab Emirates and Ruler of Dubai Sheikh Mohammad bin Rashid Al Maktum announced an increase in non-oil foreign trade by 14.4 percent reaching 1.293 trillion dirhams (USD 337 billion) in the first half of 2023, setting new records for the country.
The media office of the government Wednesday quoted him as saying their non-oil foreign trade will exceed 2.5 trillion dirhams (USD 680 billion) this year, and they will achieve the target that they announced of 4 trillion dirhams (USD 1 trillion) in 2031.
will remain a major player in international trade to consolidate its position as one of the most important global centers, he mentioned.
The country's non-oil exports with the top 10 trading partners increased by 22 percent this year, and intra-regional trade with Turkey, for example, grew 87 percent in just one year, he added, indicating the effectiveness of UAE's balanced, proactive and positive foreign policies.
Re-exports also witnessed a similar increase in H1 of 2023, recording 341 billion dirhams (USD 92 billion), up 9.9 percent, as imports increased by 17.5 percent to 693 billion dirhams (188 billion dollars), he pointed out.
In addition, China topped the list of UAE's largest trading partners around the world, India came in second place, theand Saudi Arabia ranked third and fourth, while Turkey ranked fifth, and from sixth to tenth, Iraq, Switzerland, Japan, Hong Kong and Russia, respectively.
Gold, aluminum, oil and cigarettes topped the list of UAE's top exports, as gold achieved a 40 percent growth in H1 of 2023, with a value of 218 billion dirhams (USD 60 billion), as the contribution of gold exports to the UAE's non-oil foreign trade was 17.6 percent. (end)
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