24 Apr Abu Dhabi non-oil foreign trade growth
Abu Dhabi’s non-oil foreign trade has seen an impressive 8% growth, reaching USD$77 billion last year, according to official data.
The total volume of non-oil foreign trade through the border crossings of Abu Dhabi amounted to AED283.903 billion (USD$77 billion) in 2023, with a growth rate of 8% compared to AED261.435 billion (USD$71 billion) in 2022.
Imports grew by 19% during the past year, reaching a value of AED 136.45 billion (USD$37.2 billion), compared to AED114.355 billion (USD$31.1 billion) in 2022. Re-export activities also achieved a growth of 11%, reaching a value of AED52.394 billion ($14.3 billion), compared to AED47.277 billion (USD$12.9 billion) in 2022.
The growth rates reflect Abu Dhabi’s economic expansion across all sectors, resulting from the policies, decisions, and strategic initiatives adopted by the UAE government to create a business environment open to the global economies, thereby enhancing the country’s competitiveness.
Abu Dhabi Customs has continuously adopted the latest technologies and systems to develop its operational and procedural efficiency.
This includes providing proactive services and expanding the scope of the ‘Invisible Customs System’, which streamlines time and effort for customers, facilitates customs inspection procedures, and supports the completion of transactions with high accuracy and speed.
These efforts have contributed to the ongoing growth of Abu Dhabi’s non-oil trade during the past year and achieved a 100% compliance rate with the World Customs Organisation’s SAFE framework of standards.
Abdulla Gharib Al Qemzi, Acting Director-General of Statistics Centre, said: “With the acceleration of non-oil activities growth and a strong infrastructure supporting it, Abu Dhabi’s economic position on the global scale is further solidified.”
The growth of Abu Dhabi’s non-oil foreign trade is expected to continue in the coming years, cementing the Emirate’s position as a leading hub for global trade.