The Ministry of Economy is predicting a rise in the country's exports of goods and services at the end of this year to over AED1.3 trillion, compared with over AED1.25 trillion in 2015, an increase of 5%.
This information came in a report issued by the ministry on the development of foreign trade for the second quarter, ending June 2016, under the title, "Analytical Report on the Monitoring and Follow-up and Analysis of Foreign Trade Developments - Second Quarter 2016".
The quarterly report, which was prepared by the Foreign Trade Policy Department of the Foreign Trade Sector at the ministry, includes six chapters, the first of which deals with the expected developments of UAE foreign trade.
While the second highlights the performance of the economies of the Gulf Cooperation Council for Arab States, GCC, in light of reports issued by the international financial and economic organisations.
The third addresses the latest data released by the Organisation for Economic Cooperation and Development, which focusses on global economic growth forecast reports, the fourth, entitled, "China's New Silk Road Between Reality and Dream", focuses on the recent initiative put forward by China to revive the New Silk Road.
The fifth focuses on air transport and exploring the future prospects of the industry at the regional and global levels, while the sixth and final chapter, entitled, "Double Taxation", deals with a full explanation of this vital element of economic growth.