UAE’s foreign trade reaches $ 9.3 trillion in five decades

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2019 was the best year in terms of the value of foreign trade, at 657.3 billion dollars (2,400 billion Dh).
Image Credit: Abu Dhabi Ports

Abu Dhabi: The UAE has achieved $ 9.32 trillion (Dh 34.23 trillion) in foreign trade over the past five decades, according to the United Nations Conference on Trade and Development (UNCTAD).

In addition, the country’s trade balance from 1971 to 2020 recorded a surplus of nearly $ 1.3 trillion (Dh 4.76 trillion).

UNCTAD figures also indicate that the value of UAE’s foreign trade increased 473-fold, from $ 1.15 billion (Dh 4.2 billion) in 1971 to $ 542.02 billion (2 000 billion Dh) at the end of 2020.

The cumulative balance of foreign direct investment (FDI) in the country increased from 7.8 million dollars (28 million Dh) in 1971 to some 20 billion dollars (73.46 billion Dh) at the end of 2020.

The UAE’s foreign trade over the five decades has ranged from exports of 57% worth $ 5.3 trillion (Dh19.5 trillion) to imports of 43%, worth 4.01 trillion dollars (14.7 trillion Dh).

The UAE’s exports grew 380-fold, from $ 842 million (Dh 3.1 billion) in 1971 to $ 319.3 billion (Dh 1.17 trillion) at the end of 2020, while that imports have multiplied by 730, from 309 million dollars (1.13 billion Dh) to 225.7 billion dollars (828 billion dirhams) at the end of 2020.

According to the figures, the value of foreign trade increased by 28 times at the end of the first decade, after the formation of the United Arab Emirates, to reach 32 billion dollars (117.5 billion dirhams) and nearly 33 times in the end of 1991 to reach $ 38.2 billion. (140 billion Dh), and nearly 74 times in the early 2000s to 85.7 billion dollars (315 billion Dh), and 462 times at the end of the fourth decade to 532 billion dollars (1.9 billion Dh).

2019 was the best year, in terms of foreign trade value, totaling 657.3 billion dollars (2,400 billion Dh), followed by 2018 with 649.4 billion dollars (2,38 trillion Dh ) and 2013 with 644.8 billion dollars (2,300 billion Dh). ).

In 2014, the country’s trade amounted to $ 619 billion (Dh 2.27 trillion) and in 2012 it reached $ 616 billion (Dh 2.26 trillion).


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