Page 600 - MOE ENGLISH PR REPORT - FEBRUARY 2024

2/22/24, 5:15 PM UAE's non-oil foreign trade hit record $953bn in 2023
In the fourth quarter, the UAE’s non-oil foreign trade of goods reached a record Dh710 billion, up
16.3 per cent year-on-year. Non-oil exports of goods in last quarter of 2023 amounted to Dh132.2
billion, a 39.3 per cent rise from the previous year.

Last month, the UAE Central Bank increased its 2024 growth forecast for the country's economy
to 5.7 per cent from its earlier estimate of 4.3 per cent, due to an expected rise in oil production.

The banking regulator also raised the UAE's non-oil gross domestic product growth to 5.9 per
cent and 4.7 per cent, for 2023 and 2024, respectively.

Updated: February 18, 2024, 6:21 PM

UAE SHEIKH MOHAMMED BIN RASHID ECONOMY

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