Recovery in global trade flows combined with improving demand conditions in the GCC markets, especially Saudi Arabia, is expected to benefit the UAE economy this year, according to economists.
Latest global trade data points to the strengthening in Chinese port throughput volume numbers in early 2017 as part of China’s exports to Africa, Europe, the Indian subcontinent and MENA. A significant share of Chinese shipment to these markets transit through the UAE ports.
The UAE trade data for 2016 show that activity remained resilient, supported by the diversified trade base despite the sharp slowdown in GCC economic activity precipitated by low oil prices and fiscal adjustments. Growth in total trade accelerated by 8.8 per cent (in metric tonnes) in the first nine months of 2016, up from 3.4 per cent in 2015.