UAE’s non-oil trade set a record at $952.93 billion in 2023

The United Arab Emirates’ non-oil trade hit a record high of 3.5 trillion dirhams ($952.93 billion) in 2023, as stated by the UAE’s Prime Minister Sheikh Mohammed bin Rashid al-Maktoum on X on February 18.

Thani Al Zeyoudi, the Minister of Foreign Trade, revealed in a separate social media post that trade in non-oil goods surged by 12.6% compared to the previous year. Furthermore, exports of goods and services surpassed 1 trillion dirhams, setting a new record.

“This confirms that economic diversification plans are moving in the right direction towards a future economy based on knowledge and innovation and reflects the growing international confidence in the UAE’s economy,” he emphasized on X.

These developments underscore the UAE’s commitment to economic diversification and innovation, positioning it as a key player in the global economy.