UAE non-oil trade increases as Gulf state seeks reduced oil dependence

The news follows trade agreements the Gulf state made with Israel and India.
A picture taken in the Saudi Red Sea coastal city of Jeddah on July 14, 2022 shows a Saudi host addressing guests
A picture taken in the Saudi Red Sea coastal city of Jeddah on July 14, 2022, shows a Saudi host addressing guests during a presentation on the Saudi Green Initiative, which also includes goals for tree planting and reducing emissions. - AMER HILABI/AFP via Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

The United Arab Emirates reported Monday a substantial increase in non-oil trade. 

UAE Vice President Mohammed bin Rashid Al Maktoum said that non-oil trade amounted to 1.053 trillion Emirati dirhams ($286.7 billion) during the first six months of 2022 — an increase of 17% from the second half of 2021. This was the first time non-oil trade exceeded 1 trillion Emirati dirhams in such a period. Both exports and imports increased, the official Emirates News Agency reported. 

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