9.3 trillion dollars in foreign trade of the UAE during 5 decades
The total volume of the UAE's foreign trade over five decades amounted to nearly $9.32 trillion (34.23 trillion dirhams), according to the database of the United Nations Conference on Trade and Development (UNCTAD).
The state's trade balance during the period from 1971-2020 achieved a surplus of nearly 1.3 trillion dollars (4.76 trillion dirhams).
UNCTAD data showed that the UAE's foreign trade volume doubled 473 times, rising from 1.15 billion dollars (4.2 billion dirhams) in 1971 to 545.02 billion dollars (two trillion dirhams) by the end of 2020.
The cumulative balance of foreign direct investment inflows in the country rose from $7.8 million (28 million dirhams) in 1971 to nearly 20 billion dollars (73.46 billion dirhams) by the end of 2020.
Over the past five decades, foreign trade was distributed between exports by 57%, with a value of 5.3 trillion dollars (19.5 trillion dirhams), and imports by 43%, with a value of 4.01 trillion dollars (14.7 trillion dirhams).
UAE exports doubled 380 times, rising from 0.842 billion dollars (3.1 billion dirhams) in 1971 to 319.3 billion dollars (1.17 trillion dirhams) by the end of 2020, and imports 730 times, rising from 0.309 billion dollars (1.13 billion dirhams) to 225.7 billion dollars / 828 billion dirhams / by the end of the year 2020.
According to the data, the volume of foreign trade at the end of the first decade of the establishment of the union doubled 28 times to 32 billion dollars (117.5 billion dirhams), and nearly 33 times at the end of 1991 to 38.2 billion dollars (140 billion dirhams), and about 74 times at the beginning of the current millennium to 85 $7 billion (315 billion dirhams), and by the end of the fourth decade, 462 times to 532 billion dollars (1.9 trillion dirhams).
The year 2019 ranked first in the list of the highest years in the volume of foreign trade, with a value of 657.3 billion dollars (2.4 trillion dirhams), followed by 2018 with 649.4 billion dollars (2.38 trillion dirhams), and 2013 with 644.8 billion dirhams. One billion dollars (2.3 trillion dirhams), in 2014 it was 619 billion dollars (2.27 trillion dirhams), and in 2012 it was 616 billion dollars (2.26 trillion dirhams).
Follow our latest local and sports news and the latest political and economic developments via Google newsKeywords: