Wednesday , January 16 2019

UAE leads region in exports


The UAE has moved ahead four places in the area of exports in 2017, to occupy the 15th position internationally, surpassing Russia, Spain and Switzerland, while maintaining its leadership in the Arab region, Middle East and Africa, acco- rding to reports by International Trade Statistics and forecasts by the World Trade Organisation (WTO) in 2018. The UAE also progressed by one place in imports, to occupy the 18th position internationally.
The reports included the annual monitoring by International Trade Statistics in 2017 and the WTO’s forecasts for 2018 and 2019, while highlighting global trade movements in 2017 and compared statistics on global trade from 2010 to 2017. The reports confirmed that UAE occupies the 21st position internationally and the first position in the Arab region in service exports, and the 17th position internationally and the first position in the Arab region in service imports.
In 2017, the UAE achieved a growth rate of 20.4 percent in exports, considering that the global figure during the same period was 10.7 percent, while the Middle East achieved a rate of 18 percent. The UAE’s growth figures is the highest among the top 15 international exporters. Regarding imports, the UAE’s import of goods decreased in 2017 by 1.1 percent, compared to 2016, while the world’s imports increased by 10.7 percent, and the Middle East by 1.1 percent.
The UAE also achieved growth in its service exports in 2017 of 7.5 percent compared to 2016, valued at $70 billion, as well as in its service imports by 1.9 percent during the same period, valued at $84 billion.

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