Mohammed bin Rashid: Our start after "Covid" is strong... and our economic growth is upward
1.9 trillion dirhams of non-oil foreign trade for the UAE in 2021, with a growth of 27%
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His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said in a tweet on Twitter yesterday: "Within the country's economic developments, our non-oil foreign trade achieved in 2021 a 27% jump over the previous year, and 11% from 2019, reaching 1.9 trillion dirhams,” His Highness added, “Our launch after (Covid) is strong.. and our economic growth is upward.. and our move away from dependence on oil reaches the stage of sustainability..and the future is more beautiful, God willing.”
non-oil trade
In addition, the total value of the UAE’s non-oil foreign trade in 2021 amounted to nearly 1.9 trillion dirhams, achieving a growth of 27% compared to 2020, and by 11% compared to 2019, as the growth included all components of trade, including export, import and re-export. Export, as well as the numbers of non-oil foreign trade at the local level for all emirates of the country increased in varying proportions, which reflects the comprehensive growth achieved by the country's trade.
The value of national non-oil exports amounted to about 354 billion dirhams, setting a new record, exceeding 300 billion dirhams for the first time in its history, achieving a growth of 33.3% compared to 2020, and 47.3% compared to 2019.
vital center
The Minister of Economy, Abdullah bin Touq Al Marri, stressed that “the performance of the UAE’s non-oil foreign trade proves once again that the UAE, thanks to the support and directives of its wise leadership, is the most vital and active center for trade and business at the level of the region, and among the most important vital trade axes and corridors on the trade map. He added that the comprehensive growth achieved by the country’s trade in all its components comes as a result of the forward-looking vision of the rational leadership in the country and proactive government policies to enhance the country’s commercial attractiveness, and diversify and expand its trade partnerships with global markets.
He added: "The UAE's foreign trade has by far passed the stage of recovery from the repercussions of the (Covid-19) pandemic on global trade, and today it has entered an advanced stage of growth and prosperity, with more than 11% growth compared to the pre-pandemic stage, and the comprehensiveness of the positive results of activities Import, export and re-export in all emirates of the country reflect a systematic and integrated growth based on flexible and highly efficient trade policies and sustainable development components.
honorable station
For his part, Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al-Zeyoudi, affirmed that “the non-oil foreign trade data that was recorded for the year 2021 represents a real achievement and a new honorable station for this vital sector, which is a major engine for the growth of the national economy, and is one of the pillars of the prestigious reputation that The UAE ranks on the map of economy and trade regionally and globally.”
He added: “Thanks to the support of the wise leadership, the past two years have witnessed good growth rates in trade activities, which are taking a more positive trend today, reflecting the increasing growth in the country’s foreign trade movement in general, and in promoting national non-oil exports in particular, which is still continuing its developmental leaps to record today. A record number and high growth rates compared to 2020 and 2019.”
Al-Zeyoudi continued: “These results come in light of the launch of the fifty projects and the continuous efforts they are implementing by the state to raise its position on the international trade map, and to ensure an attractive, active and open commercial environment to the world, linked to a diverse and strong network of global supply chains, which leads to providing Solid foundations for the sustainability of the growth factors of the country's foreign trade over the coming years.
There is no doubt that these results will enhance confidence among business owners and economic and commercial activities in the country, as well as trading partners from different countries of the world, in the importance of the UAE as a capital of trade, and shed light on the capabilities and opportunities that the state possesses to engage in activities and businesses.
Re-export
Trade data for 2021 showed that the total value of re-exports amounted to 521.3 billion dirhams, achieving a growth of 27.7% compared to 2020, and 1.6 percent compared to 2019. While the total value of the country's imports during 2021 amounted to about one trillion dirhams, a growth of 23.8% for the year 2020, and about 7% for the year 2019.
business partners
China ranked first, as the country's largest trading partner in 2021, accounting for 11.7% of the UAE's total foreign trade with the world. about 2019.
In second place came India, which accounts for 8.7% of the country's total non-oil trade, with a value of 164.4 billion dirhams, then Saudi Arabia third with a contribution of 6.6%, with a value of 125 billion dirhams during 2021, achieving a growth of 20% compared to 2020, and a rate of 10.1 % compared to 2019. In the fourth place, the United States of America, with which trade exchange achieved a growth of 8.1% compared to 2020. Iraq came in fifth place.
With regard to the country's export destinations, India came as the first destination, accounting for 13.8% of the country's total exports, and received 50 billion dirhams of UAE exports, a growth of 150% from 2020, and about 100% from 2019. Saudi Arabia came in second The largest future of UAE exports with a contribution of 10.7%, and received 38 billion dirhams of the state's exports, achieving a growth of 48% compared to 2020, and by 22.4% compared to 2019.
Vice President of the State:
• “Our non-oil foreign trade achieved in 2021, a jump of 27% from 2020, and 11% from 2019.”
• "Our move away from dependence on oil will reach the stage of sustainability... and the future is more beautiful, God willing."
• Non-oil exports achieve 354 billion dirhams, for the first time in their history, with a growth of 33%.
• China, India, Saudi Arabia, America and Iraq are at the top of the list of the UAE's trading partners.
• 521 billion dirhams, the volume of re-exports in 2021, a growth of 27.7% from 2020.
• 1 trillion dirhams, the total value of the country's imports during 2021, with a growth of 23.8%.
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