UAE Non-Oil Business Activity Surges to Nine-Month High in December

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 The United Arab Emirates' non-oil private sector recorded its fastest expansion in nine months in December 2024, buoyed by strong domestic demand and increased business activity, according to the latest S&P Global Purchasing Managers’ Index (PMI) report. PMI Highlights Robust Growth The seasonally adjusted UAE PMI climbed to 55.4 in December from 54.2 in November, signaling robust growth well above the 50.0 threshold that separates expansion from contraction. This marked the third consecutive monthly increase, underscoring sustained recovery in the non-oil sector. Key drivers of growth included a notable rise in new business activity. The new orders subindex rose sharply to 59.3 in December from 58.0 in the previous month, reflecting strong domestic demand. Challenges Amid the Growth While domestic demand flourished, export growth slowed, with the export orders subindex dropping to a seven-month low. Additionally, businesses faced mounting backlogs due to capacity constraints,...
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The World Trade Organization (WTO) will receive a historic US$10 million donation

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The World Trade Organization (WTO) will receive a historic US$10 million donation, as revealed by Minister of Foreign Affairs H.H. Sheikh Abdullah bin Zayed Al Nahyan. In keeping with the UAE's commitment to inclusive and sustainable global trade, this award will be distributed to the Women Exporters in the Digital Economy (WEIDE) Fund, the Enhanced Integrated Framework (EIF), and the Fisheries Funding Mechanism.

The 13th WTO Ministerial Conference will be held in Abu Dhabi from February 26–29, and the UAE is honored to be hosting this event. Leaders, ministers, and delegates from 166 Member States are gathered at this summit to talk about important trade concerns and update the regulations governing international commerce. All participants are cordially invited to participate in productive conversations aimed at advancing economic progress. 

The projects funded by the UAE grant are essential to increasing the sustainability and inclusivity of international commerce, particularly for developing and least developed nations (LDCs). The Fisheries Funding Mechanism seeks to help Member States execute regulations pertaining to fisheries subsidies, while the EIF concentrates on leveraging trade as a weapon for growth and poverty reduction. Through digitalization, women-led enterprises will be able to reach international markets thanks to the WEIDE Fund, an effort in partnership with the International Trade Center (ITC).

The donation from the UAE demonstrates its dedication to advancing equitable and sustainable international trade. Through its support of these important projects, the UAE is fostering global trade equity and advancing the economic development of nations across the globe.


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