Source: Emirates 24/7
The UAE’s trade is projected to soar to Dh2.4 trillion in 2015.
Official data showed imports by the UAE, the second largest Arab economy after Saudi Arabia, could reach Dh1.06 trillion while exports could rise to Dh1.34 trillion.
In 2012, the country’s trade is projected to touch Dh1.81 trillion, including about Dh979 billion in exports, according to figures provided by Jamal bin Thaniya, deputy chairman of Dubai’s DP World.
Speaking at Dubai’s Economic Forum, he said the emirate’s non-oil trade rose by nearly 44 per cent in 2008 to reach Dh612 billion.
It slumped to about Dh488 billion because of global recession before rebounding to nearly Dh575 billion in 2010, he said, quoted by the semi-official Arabic language daily Al Ittihad.
He gave no figures for the UAE’s trade in 2011 but official data showed trade totalled nearly Dh1.45 trillion in 2010, which was more than a quarter of the total trade of Arab countries.
Bin Thaniya cited international estimates to show that the UAE’s GDP is forecast to grow by an average six per cent in 2015 and that growth is expected at around 3.8 per cent in 2012. Inflation is projected at 2.1 per cent this year, 1.6 per cent in 2013, 2.8 per cent in 2014 and 2.5 per cent in 2015, he said.