The bank, however, expected the country’s real GDP to moderate to 4.1 percent in 2023 as slower global demand may dampen growth due to tightening financial conditions
Non-oil economy
bilateral cooperation
CEPA helps Indian non-oil exports to UAE rise by 14 percent in 3 months
During June-Aug 2022, India’s imports from the UAE grew from $5.56 billion to $5.61 billion, India’s commerce ministry said
exports and re-exports
Asia biggest partner of Ras Al Khaimah in growing non-oil foreign trade in 2021
Non-oil foreign trade rose from AED 14.78 billion in 2020 to AED 16.83 billion in 2021, with exports accounting for the largest share in the mix
business activities
Dubai’s non-oil economy jumps to three-year high in June led by growth in travel, construction sectors
The survey found businesses “were increasingly confident of a rise in output over the coming year,” with confidence rising to the highest since last October
business ventures
UAE to offer government workers one-year paid leave to start a business
Government employees holding UAE citizenship that take advantage of the plan will be paid half their salary for one year
China
UAE, Saudi Arabia non-oil economies to benefit from China’s mild trade reopening
Supply chain bottleneck is expected to ease, and global trade volume will increase by 3.5 percent this year
Abu Dhabi
Abu Dhabi to invest $2.7 billion to boost its manufacturing sector
The strategy will focus on six programmes, which will create 13,600 skilled jobs and boost the emirate’s non-oil exports by 143 percent
clean energy
The real metric of economic diversification shows how far the UAE has come
The decrease in the breakeven external oil price paints a very strong economic picture for the UAE
Germany
Non-oil trade between the UAE and Germany climbs to $130.13 billion over the past decade
Cars ranked first on the list of the most important goods imported from Germany during 2021 at a value of approximately $1.17 billion
business activities
Business conditions in Dubai rise to near three-year high
There has been a strong rebound in the travel and tourism sector which helped push up business activity in May
Business condition
Jobs on the rise as inflation fails to dent the UAE’s biggest business upswing in 2022
The rate of job creation was the quickest in seven months in the UAE as output in the country’s non-oil economy increased at the fastest pace since last December.
Abu Dhabi non-oil foreign trade
UAE’s non-oil foreign trade rises to $136 billion in Q1 2022 for the first time in the nation’s history
Gold topped the list of leading commodities in the UAE’s non-oil foreign trade, accounting for AED 84.4 billion or 17 percent of the country’s total non-oil foreign trade
Abdullah bin Touq Al Marri
UAE to reduce tariffs on goods from India by 90 percent as CEPA deal boosts trade: Minister of Economy
The UAE-India CEPA deal is expected to add $9 billion to the UAE’s GDP and add 140,000 jobs by 2030
business activities
Sharjah witnesses 4.8 percent GDP growth to $35.3bn in 2021, boosting status as a trade hub
Sharjah’s trading sector was the most significant contributor to GDP at 23.8 percent, followed by construction and real estate, among other sectors, according to data from the emirate’s Department of Statistics and Community Development
Abu Dhabi
UAE Cabinet forms council to double the digital economy’s contribution to the GDP within 10 years
The UAE Cabinet discussed the UAE Digital Economy Strategy, which includes more than 30 initiatives and programmes targeting six sectors and five new areas of growth
DIFC
Can Dubai compete as a global trading hub?
Dubai needs a fully transparent regime, the availability of trusted brokers and trading platforms, easy and straightforward funding and withdrawal pathways, as well as sophisticated technological infrastructure to allow for faster execution
Abu Dhabi
Abu Dhabi sees non-oil real GDP grow by 4.1 percent in 2021 as sectors hit by Covid-19 make a robust recovery
Non-oil activities contributed to 49.7 percent of Abu Dhabi’s real GDP in 2021, showcasing the emirate’s remarkable progress in diversifying its economy