Abu Dhabi, UAE -- The Central Bank of the United Arab Emirates (CBUAE) expects the country's Gross Domestic Product (GDP) to grow by 4.2 percent in 2024, rising to 5.2 percent in 2025, while maintaining its estimate for a 3.1 percent growth in 2023. In its quarterly economic review report...

The non-oil economy contributed more than 53 percent to the total GDP, with significant growth in construction, finance and insurance, transportation and storage activities. Statistics Centre - Abu Dhabi (SCAD) said the results demonstrate the economy's ability to expand thanks to diversification efforts.

RIYADH, SAUDI ARABIA – Non-oil activities in the Kingdom have achieved a historic milestone, reaching a 50 percent share of the country's real GDP in 2023 – the highest level on record, according to an analysis of the General Authority for Statistics data by the Ministry of Economy and Planning....

WASHINGTON, US - The World Bank expected the UAE's real GDP to grow by 3.4 percent in 2023, rising to 3.7 percent in 2024 and to 3.8 percent in 2025. According to the Global Economic Prospects report released on Tuesday, the World Bank forecast the growth in the Gulf Cooperation...

ABU DHABI, UAE - The Statistics Center - Abu Dhabi (SCAD) has reported a substantial 7.7 percent growth in the real non-oil Gross Domestic Product (GDP) the Emirate during the third quarter of 2023, in comparison to the same period in 2022. This growth is attributed to the success of...

It will boost the trade between Saudi Arabia and Kazakhstan.

The bank stated in a report released today that the overall GDP for the country is expected to grow by 3.1 percent in 2023. The report anticipates a non-oil GDP growth of 5.9 percent in 2023 and 4.7 percent in the following year, while estimating the oil GDP growth at...

Dubai, UAE - The UAE’s GDP is expected to double in 2024 to 4.8%, up from 2.4% year-on-year in 2023, according to the latest Economic Insight report commissioned by ICAEW and compiled by Oxford Economics. While near-term growth may face constraints due to OPEC+ production quotas, the UAE's higher reference...

Abu Dhabi, UAE -- The financial sector in the UAE has experienced a surge of 30 percent in the second quarter of this year. Forecasts predict a continued upward trajectory, with an expected annual growth rate of 13 percent in 2023, according to a senior economic official. Addressing attendees at...

Dubai, UAE -- Saudi Arabia’s oil exports fell by 17.1 percent (SAR 17.2 billion or $4.58 billion) in September, mainly leading to the 17.1 percent fall in overall merchandise exports to SAR 103.8 billion, from SAR 125.3 billion in September 2022.   The share of oil exports in total exports increased...

Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) decreased by 4.5 percent in the third quarter of 2023, compared to the third quarter of 2022, flash estimates by the General Authority for Statistics (GASTAT) said. GASTAT attributed the fall to a decrease in oil activities by 17.3...

Abu Dhabi, UAE -- Oxford Economics, an independent economic advisory firm, has predicted that the UAE economy will grow by 4.4 percent in 2024, driven by, among other things, government initiatives to support economic diversification. Scott Livermore, Chief Economist, Oxford Economics Middle East, and Managing Director, told WAM that the...

S&P analysts anticipate continued growth within the UAE's robust tourism sector. The country's ability to host major international events is expected to play a pivotal role in achieving the UAE's ambitious goal of attracting 40 million visitors by 2030, accompanied by plans to expand the number of hotel rooms to...

ABU DHABI, UAE - The volume of trade exchange between the UAE and the Kingdom of Saudi Arabia grew by 28 percent in 2022, reaching US$37.4 billion (AED 137.51 billion), compared to US$29 billion (AED 107.41 billion) in 2018. The total non-oil trade between the UAE and Saudi Arabia rose...

Abu Dhabi, UAE -- Standard & Poor's Global Ratings expects that the banks of the United Arab Emirates (UAE) will achieve strong performance in 2023. In a recent report, the credit rating agency said that UAE banks will benefit from strong non-oil GDP growth, which will mitigate the impact of...

TEHRAN, IRAN - The US Bureau of Statistics in its latest report said the trade between Iran and the United States in the first seven months of 2023 registered a 26 percent growth compared to the same period last year. The two countries traded over $31 million worth of non-oil...

New Delhi, India - The non-oil trade between the UAE and G20 countries in 2022 hit $341 billion, which is 55% of the UAE's total non-oil trade, Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade told the Emirates News Agency (WAM) in India where he...

Riyadh, Saudi Arabia -- Saudi Arabia’s real GDP grew by 1.2 percent in the second quarter of 2023, compared to Q2 of 2022, according to Kingdom's General Authority for Statistics (GASTAT). A GASTAT report showed a 6.1 percent increase in non-oil activities over 2022, a 2.3 percent increase in government...

TEHRAN, IRAN  – Iran’s export of non-oil products to the Economic Cooperation Organization (ECO) member states in the first four months of the current Iranian year exceeded $3.6 billion, an official said. Iran exported $3.615 billion worth of non-oil goods to the ECO member states from March 21 to July...

DUBAI, UAE – Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade discussed deeper economic collaboration, including the Comprehensive Economic Partnership Agreement (CEPA) with Damien O'Connor, New Zealand's Minister of Trade and Export Growth here. During the meeting, which came as part of a visit to...

Riyadh, Saudi Arabia -- Saudi Arabia's oil exports fell by 33.4 percent to SAR 227.7 billion ($60.70 billion), from SAR 341.6 billion, in the second quarter of 2023, contributing mainly to the decline of 31.8 percent in overall merchandise exports, compared to Q2 2022. The value of exports amounted to...

The results are buoyed by record non-oil exports, which reached AED 205 billion in H1 2023, an 11.9 percent growth compared to the first half of 2022 and 5.4 percent more than H2 2022. Non-oil exports in the first six months of 2023 exceed the exports recorded in the whole...

Tehran, Iran -- Iran exported $2.9 billion worth of non-oil products to Iraq in the first four months of the current Iranian calendar year, an official with the Trade Promotion Organization of Iran (TPOI) said, adding that the country’s export to Iraq will reach $10.5 billion by the yearend. Iran’s...

RIYADH, SAUDI ARABIA - The real GDP of Saudi Arabia grew by 1.1 percent in the second quarter of 2023, compared to the second quarter of 2022, according to the General Authority for Statistics (GASTAT). Flash estimates for the GDP in Q2 of 2023, issued in a report by GASTAT,...

The share of oil exports in total exports decreased from 80.8 percent in May 2022 to 74.1 percent in May 2023, according to General Authority on Statistics (GASTAT). Compared to April 2023, total merchandise exports decreased by SAR 7.0 billion or 6.7 percent.

ABU DHABI, UAE - The significant growth in the volume of non-oil trade between the UAE and India signifies the positive progress of the Comprehensive Economic Partnership Agreement (CEPA), more than a year after it became operational. CEPA will help deliver the target of reaching US$100 billion in non-oil trade...

Official data show a 6.1 percent growth in non-oil GDP during the first quarter of 2023, driven by strong performances in construction, wholesale and retail trade, transportation and storage, and financial and insurance services. The non-oil GDP (at constant prices) reached AED 146bn ($39.74bn) in Q1 compared to AED 137.7bn...

Minister of Economy Abdullah bin Touq Al Marri said that the strong GDP growth was due to the government's forward-looking economic policies, which have helped to attract investment and promote foreign trade. He also noted that the UAE's GDP per capita has grown by an unprecedented rate of 24.7 percent...

The Gross Domestic Product at current prices amounted to SAR 1 trillion ($267.95 billion) in Q1/2023. Crude petroleum and natural gas activities had the highest contribution to GDP with 26.7 percent, followed by government services activities with 15.3 percent and manufacturing excluding petroleum refining with 9.7 percent.

Riyadh, Saudi Arabia -- The real GDP of Saudi Arabia grew by 3.9 percent in the first quarter of 2023, compared to Q1 of 2022. Flash estimates of GDP for Q1 of 2023, issued in a report by the General Authority for Statistics (GASTAT), showed a 5.8 percent increase in...

The kingdom witnessed 6.2 percent non-oil real GDP growth, the highest since 2012 and higher than the 5 percent annual target set by its Economic Recovery Plan that aims to enhance the economy's long-term competitiveness and support post-COVID recovery.

The growth rate is also the highest in the last decade, with crude oil and natural gas contributing 32.7%, government services 14.2%, and manufacturing other than oil refining 8.6%.

Abu Dhabi, UAE--- Non-oil foreign trade between the UAE and Kuwait has grown 87 percent over the past ten years to reach AED43 billion ($11.70 billion) by the end of 2022, compared to AED23.3 billion in 2013, according to UAE's Federal Competitiveness and Statistics Centre (FCSC). The FCSC data showed...

Abu Dhabi, UAE-- The non-oil trade between the UAE and Azerbaijan has risen threefold during the past five years, said Thani bin Ahmed Al Zeyoudi, UAE's Minister of State for Foreign Trade. Al Zeyoudi told WAM that the non-oil trade between the two countries totaled more than AED10.2 billion over...

Abu Dhabi, UAE – The non-oil trade between the UAE and Saudi Arabia in 2022 increased by 9 percent, reaching AED136.09 billion ($37.05 billion), compared to AED124.6 billion at the end of 2021, the Federal Center for Competitiveness and Statistics said. Over the period of 2013-2022, non-oil trade between the...

Riyadh, Saudi Arabia-- Saudi Arabia's non-oil exports (including re-exports) fell by 24.4 percent to SAR 22.7 billion ($6.05 billion) in December 2022, from SAR 30.1 billion in December 2021, according to the kingdom's General Authority for Statistics. Non-oil exports (excluding re-exports) decreased by 17 percent as re-exports also fell by...

Riyadh, Saudi Arabia---Saudi Arabia’s real gross domestic product grew by 8.8 percent in the third quarter of 2022 compared to the same period last year, driven by an increase in oil activities, according to a report released by the kingdom's General Authority for Statistics (GASTAT). GASTAT noted that the real...

Abu Dhabi, UAE----UAE's non-oil foreign trade increased by 19 percent by the end of the third quarter, compared to the same period last year, to reach AED 1.637 trillion ($445 billion), said UAE's Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi, who predicted the trade to...

The company paid a dividend of AED1.285 bn in Oct.

Dubai, UAE--- Non-oil trade of Dubai Airport Free Zone (DAFZ), part of the Dubai Integrated Economic Zones Authority (DIEZ), rose by more than 36 percent year-on-year in 2021 to more than AED162 billion, from AED119 billion last year. DAFZ contributed 10.7 percent to Dubai’s non-oil trade in 2021, exceeding expectations...

S&P Global's latest data reveals that the UAE has recorded a strong growth in business across the non-oil economy even as its Purchasing Managers’ Index slightly took a dive to 56.1 in September over the previous month.

The value of non-oil exports from the UAE to Saudi Arabia over the past ten years was around AED205.5 billion, while re-exports were valued at AED471.7 billion, and imports at AED227 billion.

The UAE has proven to the world the recovery of international trade after the most difficult pandemic that humanity has gone through, said Prime minister Sheikh Mohammed bin Rashid Al Maktoum. Non-oil exports were about AED180 billion for the first time in its history, recording a growth rate of 8...

The Kingdom of Saudi Arabia’s overall merchandise exports increased by 83.4 percent in May 2022 compared to May 2021, the General Authority for Statistics (GASTAT) revealed.

The UAE-Germany non-oil trade exchange exceeded AED 478 billion ($130 billion) from 2012- 2021, according to data from the Federal Competitiveness and Statistics Centre (FCSC). The imports accounted for 89.5 percent of the total trade exchanges, while exports 3.5 percent and re-exports accounted for seven percent. The data showed that...

The region's countries have embarked on ambitious transformative plans to reduce dependence on oil and diversify their economies.

The non-oil trade between Germany and the UAE amounted to $9.5 billion during 2021, a 10.5 percent increase compared to 2020, said Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, who added that Germany has become UAE's most important trading partner in the Middle East. He...

Abu Dhabi’s non-oil foreign trade in the first quarter (Q1) of 2022 amounted to AED61.522 billion ($16.74 billion), a 15 percent increase compared to the same period of 2021. Exports grew by 35 percent in the first three months of the year compared to the same period of last year ...

UAE’s real non-oil GDP grew by 7.8 percent in the fourth quarter of 2021, owing to the easing of business closures and the decline in restrictions on international travel, the Central Bank of the UAE (CBUAE) said. The bank said there was a 9.3 percent annual increase in Emirati oil...

Abu Dhabi’s non-oil GDP at constant prices grew by 4.1 percent in 2021, according to Statistics Centre-Abu Dhabi. The emirate’s GDP at constant prices grew by 1.9 percent in 2021 compared to the previous year, SCAD said, adding both oil and non-oil sectors witnessed growth. In 2020, a significant decline...