As per UNCTAD’s latest World Investment Report 2022, UAE ranks as the best nation in the Arab World, in 2021, from a foreign direct investment perspective. UAE remained the largest recipient of FDI with flows surging from US$19.88 billion in 2020, to US$20.7 billion in 2021. Global FDI inflows surged 64% in 2021, totalling to US$ 1.58 trillion, compared to 2020.
UAE records trade surplus with GCC countries at AED 134.7 billion in 2021
As per Federal Competitiveness and Statistics Centre, UAE’s trade surplus with GCC countries amounted to AED 134.7 billion in 2021. 26% increase in trade between UAE and GCC countries was recorded in 2021, compared to 2020, as per the reports.
UAE part of MENA Europe Future Energy Dialogue
As a trusted global energy supplier, UAE participated in the ‘MENA Europe Future Energy Dialogue’, which was held in Jordan. The UAE’s Minister of Energy and Infrastructure spoke at length about the challenges facing the energy sector and reinforced the UAE’s Net Zero by 2050 initiative aimed at mitigating climate change.
CBUAE: UAE’s GDP growth expected to reach 4.2% next year
Central Bank of United Arab Emirates (CBUAE) revised projections for the UAE’s real GDP growth likely to reach 4.2% in 2023, against forecast of 3.3%. In its Annual Report for 2021, CBUAE estimated the non-oil GDP growth to hit 3.9% in 2023 while the oil GDP growth is likely to reach 5% in 2023. The revised predictions reinforce the positive trend in UAE’s economic activity which is an outcome of the various government led support measures that were introduced since the start of the COVID outbreak.