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FINANCIAL NEWS
UAE’s foreign trade posts 25% increase in 2011
23 Feb 2012
(MENAFN) UAE’s undersecretary of the Ministry of Foreign Trade, Abdullah Al Saleh, said that in 2011, the country’s foreign trade jumped 25 percent to USD272.24 billion, reported The National.
Al Saleh added that in the period, exports surged 36 percent, due to growing demand for the UAE’s goods, including gold and plastics.
He also said that the increase in last year’s trade growth was driven by the country’s commercial links with the faster-growing economies of India, China, Hong Kong and Singapore, in addition to high commodity prices.
It is worth noting that trade with Germany, France, Belgium and Italy, which together account for 80 percent of total UAE trade with the euro zone, increased 25 percent in 2011.
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