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Thani Al-Zeyoudi: The forward-looking policies implemented by the government prove their strength in supporting the UAE’s position on the international trade map.
The UAE contributes 2.4% of world exports.
– 1.273 trillion dollars, the volume of the UAE’s commercial dealings of goods and services with the world, with a surplus of about 233 billion dollars during the year 2022.
The UAE ranked 18th in the world in terms of merchandise imports, with a total of $425 billion, with a contribution of 1.7% of the world’s merchandise imports, with a growth rate of 22%.
– The UAE ranked 12th in the world in service exports, with a value of $154 billion, with a contribution of 2.2% of the world’s exports of services.
The UAE ranks 18th globally in imports of services, with a value of $95 billion, with a contribution of 1.5% of the world’s imports of services.
– The UAE achieves a surplus in its trade balance of about $174 billion from its merchandise trade, and $59 billion from services.
The UAE is the first in the Arab world and the 21st in the world on the list of major exporters of digital services globally during 2022, with a total value of $45 billion, with a contribution of 1% of world exports.
Abu Dhabi, April 6 / The United Arab Emirates ranked 11th in the world in terms of merchandise exports during the year 2022, with a total of $599 billion and a contribution of 2.4% of the world’s merchandise exports, achieving a growth of 41%; In the case of dealing with the countries of the European Union as a group, the UAE jumps to rank 7 in the world, according to the “World Trade Outlook and Statistics” report issued by the World Trade Organization yesterday, Wednesday, April 5, 2023.
According to the report, the UAE also ranked 18th in the world in terms of merchandise imports during the year 2022, recording a value of $425 billion, with a contribution of 1.7% of the world’s merchandise imports, with a growth rate of 22%. If dealing with the European Union countries as a group, the UAE jumps to rank 13. globally.
His Excellency Dr. Thani bin Ahmed Al-Zeyoudi, Minister of State for Foreign Trade, affirmed that the forward-looking policies implemented by the UAE government, in implementation of the directives of the wise leadership, prove every day the extent of their strength in supporting the country’s economic position globally, consolidating the foundations of its new economic model based on knowledge and innovation, and contributing effectively to sustainably enhance its competitiveness.
His Excellency said: The prestigious position that our national economy occupies today, with the testimony of international financial institutions, puts us in a new challenge to develop our policies and programs in order to maintain this leadership, and we continue to strengthen the UAE’s position on the international trade map, through our innovative initiatives, including the Comprehensive Economic Partnership Agreement. , the Next Generation Foreign Investment Initiative, start-up support programs and other initiatives.
(Exports and imports of services)
The World Trade Organization indicated that the UAE ranked 12th in the world in service exports during the year 2022, with a value of $154 billion and a contribution of 2.2% of the world’s exports of services. In the case of dealing with the countries of the European Union as a group, the UAE jumps to rank 8 in the world.
The UAE also ranked 18th in the world during the year 2022 in imports of services at a value of $95 billion, with a contribution of 1.5% of the world’s imports of services. In the case of dealing with the European Union countries as a group, the UAE jumps to rank 11th in the world.
(trade balance)
The organization’s statistics indicate that the UAE has achieved a surplus of $174 billion in its trade balance in its merchandise trade, as well as $59 billion in services. Services, meaning that the UAE’s commercial dealings of goods and services with the world amounted to $1.273 trillion, with a surplus of $233 billion in 2022.
The UAE ranks first in the Middle East and Africa in exports and imports of goods and services, and has maintained its position as the most important market for merchandise exports and imports in the Middle East and Africa.
(digital services)
The UAE is also among the top exporters of digital services globally during 2022, as it ranked 21st in the world with a value of $45 billion and a contribution of 1% of the world’s exports of digital services, achieving a growth of 16% during 2022 compared to 2021, and a growth of 1%. 55% during 2022 compared to 2019, and the UAE ranked first in the Arab world during 2022, and it was the only one among the list of the top 30 countries exporting digital services globally, while the UAE’s exports of digital services during 2022 contributed by more than 29% of the value of its exports from Services.
According to the World Trade Organization report; The world’s exports of digital services amounted to about $3.82 trillion in 2022, and they contribute 54% of the world’s exports of services.
(Expectations of global trade growth)
In general, the World Trade Organization expected, through the report, a slowdown in trade volume growth to 1.7% in 2023, down from 2.7% in 2022, as the pace of trade expansion this year is still expected to be below the level, affected by the geopolitical changes taking place in the world. At the same time, she noted, investing in multilateral cooperation will boost economic growth and people’s living standards in the long term.
The organization’s report indicated that the value of global merchandise trade increased by 12% to reach $25.3 trillion in 2022 compared to 2021, and it also achieved a growth of 32% during 2022 compared to 2019. He explained that the value of global commercial services trade increased by 15%. % in 2022 to reach
