UAE foreign trade to hit $599bn in 2022 says Sheikh Mohammed

Highlighting a stronger than forecast economic performance so fat this year Sheikh Mohammed highlighted that foreign trade is expected to reach AED2.2tn ($599bn) this year.

This is a marked increase on the AED1.9tn ($517bn) of foreign trade seen in the country last year.

UAE economic forecasts

Taking to Twitter to share the news with more than 11m followers he pointed out that the United Arab Emirates defied World Trade organisation forecasts.

“The UAE is an exception in global trade and economy, as well as in its services and infrastructure. The Vice-President said it constitutes an exception in its distinguished and stable international relations”.

“As we celebrate a new anniversary of the Union, we are optimistic that our economy will be stronger and higher. May Allah protect the UAE and its people,” he said.

With economic optimism in the country the government is looking towards a reduced rate of inflation in the United Arab Emirates next year, Minister of Economy Abdulla bin Touq Al Marri said earlier this week.