Skip to content Skip to Search
Skip navigation

Abu Dhabi’s non-oil trade rises 8% as economy expands

By Pramod Kumar
Abu Dhabi Ports
Imports from Abu Dhabi ports grew by 19 percent year on year, reaching AED136.5 billion

Non-oil foreign trade through Abu Dhabi ports grew 8 percent to AED282 billion ($77 billion) in 2023 from AED260 billion in 2022, as the UAE’s economic diversifation plans continue to bear fruit.

Imports grew by 19 percent year on year, reaching AED136 billion, the UAE state-run Wam news agency reported, quoting Abu Dhabi Customs data. Re-export activities rose 11 percent year on year to AED52 billion.

The growth rates reflect Abu Dhabi’s economic expansion across all sectors, said Rashed Lahej Al Mansoori, director-general of the general administration of Abu Dhabi Customs.

Abu Dhabi witnessed significant growth in several key economic activities last year, which directly reflected in the growth of foreign trade through its ports, said Abdulla Gharib Al Qemzi, acting director-general of statistics centre – Abu Dhabi.

Abu Dhabi’s non-oil sector expanded by more than 9 percent last year with manufacturing and construction leading the way.

The Statistics Centre Abu Dhabi this month issued preliminary GDP estimates for 2023, revealing non-oil growth of 9.1 percent – slightly down from 9.2 percent in 2022 – as the emirate’s overall economy improved by 3 percent compared to 2022.

The emirate’s GDP in 2023 achieved its best performance in terms of value in 10 years at just over AED1 trillion, the figures also showed, with the non-oil sector contributing 53 percent.

Latest articles

Investor Tim Draper told AGBI the US must 'swing back to freedom' to avoid losing innovation to countries such as the UAE

Tim Draper: UAE benefits from US crypto ‘overregulation’

Billionaire venture capitalist Tim Draper has criticised the US for its restrictive stance on cryptocurrency, claiming it is driving innovators towards more encouraging and friendlier markets such as the UAE. The Gulf state is actively developing regulatory frameworks to lure new forms of business, amid intense regional economic competition. Dubai and Abu Dhabi have set […]

A subsidiary of Banque Misr will open the first digital-only bank in Egypt this year

Egypt to open first digital bank later this year

Misr Digital Innovation will open Egypt’s first digital bank towards the end of the year, as it looks to appeal to the North African’s country’s younger and unbanked demographic. MTI, a subsidiary of Banque Misr, is the first bank to have received approval to establish a digital bank by the Central Bank of Egypt (CBE) […]

Saudi Arabia’s industry and mineral resources minister Bandar Al-Khorayef. The country is struggling to meet an FDI target of $100bn a year by 2030

Saudi industry minister tempts investors with funding incentives

Saudi Arabia’s ministry of investments and mineral resources is prepared to finance up to 75 percent of industrial projects in the country, as the kingdom tries to boost its low foreign direct investment (FDI) numbers.  Bandar Al-Khorayef, the minister of industry and mineral resourcespointed to well-developed infrastructure across 36 industrial cities, prefabricated factories ready to […]