2024-08-25T09:51:25+00:00
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Shafaq News/ Vice President and Prime Minister of the UAE Sheikh Mohammed bin Rashid Al Maktoum on Sunday announced that the country’s foreign trade will reach 1.4 trillion dirhams in the first half of 2024, a significant increase from pre-pandemic levels.
In a statement carried on X, Sheikh Mohammed said that “the UAE’s exports in the past six months were equivalent to the full year of 2019,” noting that “the UAE’s trade grew 11.2 percent year-on-year, while global foreign trade grew by about 1.5 percent.”
“Non-oil exports will see a significant increase of 25 percent and the UAE targets to reach AED 3 trillion in non-oil trade by the end of the year.”
Sheikh Mohammed further highlighted the significant increase in trade with various countries, saying, “India at 10 percent, Turkey at 15 percent and Iraq at 41 percent are now the UAE’s largest export destinations, followed by India and Turkey.”
The vice president reiterated the UAE’s long-term economic goals, saying: “The country aims to achieve annual foreign trade of 4 trillion dirhams by 2031.”
1 USD is equivalent to 3.67295 AED