UAE’s non-oil foreign trade up 27% to Dhs900bn in H1 2021

cent, oil, dhsbn, compared, exports,
UAE
  • Date: 14-Oct-2021
  • Source: Gulf Business
  • Sector: Oil & Gas
  • Country: UAE
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UAE’s non-oil foreign trade up 27% to Dhs900bn in H1 2021

The UAE’s non-oil foreign trade grew 27 per cent year-on-year in H1 2021 and also 6 per cent compared to pre-pandemic levels in 2019. According to preliminary data released by the Ministry of Economy, the total value of the country’s non-oil foreign trade amounted to nearly Dhs900bn in the first half of 2021. The value of non-oil exports alone amounted to Dhs170bn during this period, an increase of 44 per cent compared to the first half of 2020 and 41 per cent compared to H1 2019. The contribution of non-oil exports to the country’s total non-oil foreign trade in H1 2021 grew to 19 per cent from 16.6 per cent in 2020 and 14.2 per cent in 2019. The Ministry of Economy’s data showed that the value of UAE’s gold exports exceeded Dhs70bn in H1 2021. It demonstrated a growth of 48 per cent compared to H1 2020, while the rest of the non-oil exports except gold totaled Dhs98bn with a growth of 42 per cent compared to H1 2020 and 20 per cent over H1 2019. Also, 87 per cent of the country’s non-oil exports are locally made and 13 per cent comes from free zones and customs warehouses.

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