Finance UAE and US non-oil trade reached $31bn in 2023 By Pramod Kumar March 18, 2024, 4:13 AM WAM Exports to the UAE sustain 125,000 jobs in the US, said Danny Sebright, president of the US-UAE Business Council Non-oil trade between the UAE and the US reached $31.4 billion in 2023, said Danny Sebright, president of the US-UAE Business Council. Trade is projected to grow at the same pace this year, the UAE state-owned Wam news agency reported, citing Sebright. US exports to the UAE reached $24.8 billion last year, rising 19 percent from $20.8 billion in 2022. NewsletterGet the Best of AGBI delivered straight to your inbox every week The Gulf state remained the top US export destination in the Middle East and Africa for the fifth consecutive year, he said. Sebright added that exports to the UAE sustain 125,000 jobs in the US. Exports from the UAE to the US reached $6.6 billion last year. Emirati investments in the US market are growing, focusing on sectors such as real estate, manufacturing, healthcare and technology. Healthcare and life sciences, financial services and private equity, and technology and artificial intelligence are the central areas for potential collaboration this year. Furthermore, Sebright said that the UAE and the US made tremendous progress last year in the lead-up to Cop28 in the areas of renewable energy, food security, and sustainability, in addition to traditional sectors such as space, defence and energy.
