The UAE economy is on its way to diversifying the structure of its exports and reducing its dependence on oil, in line with the development programme and strategic plans announced by the government, according to a World Trade Organization (WTO) report.
UAE oil exports contributed 57.9 per cent of total exports in 2007, representing a nine per cent decline compared to 63.7 per cent in 2000.
Compared to other GCC countries, WTO said the UAE ranked first in terms of non-oil contribution to the structure of total exports and decline in the contribution rate of oil exports. The UAE is followed by Saudi Arabia.
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