Total non-oil trade between the UAE and the G20 countries increased 14.4% year on year in the first half of this year, reaching $181.9 billion, after significant growth in 2022. Non-oil exports to G20 nations increased 10.6% from January to June to $23.4 billion, according to Dr Thani Al Zeyoudi, Minister of State for Foreign Trade.
The value of re-exports jumped by 14% to $38 billion, while imports increased by 15.2% to $120.5 billion, he said in India, where he is representing the UAE at the G20 conference in New Delhi. Non-oil commerce between the UAE and the G20 increased by 21% last year to $341 billion, accounting for 55% of the UAE's overall non-oil trade for the year.
“G20 countries are the UAE's largest trading partners,” Dr Al Zeyoudi said.
“These strong trade and investment relations are a testament to the UAE's commitment to open and free trade. The UAE is a major player in the global economy, and it is working to strengthen its ties with other countries around the world."