UAE – Mubasher: The UAE has been placed first in the Arab region and 17th globally in services exports by the ‘International Trade in Services 2019’ report issued by the UN Conference on Trade and Development (UNCTAD).
The value of the UAE’s services exports grew by 2.3% to $73 billion in 2019.
Meanwhile, the UAE ranked second among Arab countries, following Saudi Arabia, and 18th globally in services imports, with a 2.4% growth to register $74 billion last year.
The report referred that the international trade in services recorded $6.2 trillion in 2019, up 2% compared to 2018, with a 1.9% and 2.1% rise in exports and imports, respectively.
The 2019 value of international trade in services accounted for 24% of the total global trade volume of goods and services.
The UAE Minister of Economy, Abdullah bin Touq Al Marri, commented that the UAE has one of the most open economies in the world, as the country has strengthened its relations with 200 countries.
Because of the continuous investments in developing the commercial infrastructure, the UAE becomes a major international commercial hub, Al Marri added.
