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FINANCIAL NEWS
UAE’s 2010 foreign trade represents 69% of GDP
03 Nov 2011
(MENAFN) UAE’s Minister of Foreign Trade, Shaikha Lubna Al Qasimi, said that in 2010, foreign trade represented around 69 percent of the country’s gross domestic product (GDP), reported Gulf News.
Al Qasemi added that the country’s seaports and airports were key factors in stimulating the country’s trade with other nations, accommodating more than USD178 billion in total trade.
She also said that the strong performance of the country’s ports managed to place the UAE as a regional hub for over 25 percent of the world’s top 55 firms.
It is worth noting that between 60 percent and 70 percent of goods handled at UAE seaports in 2010 were re-exported to other countries.
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