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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This 2024 UAE and Ecuador have taken a significant step towards deeper economic

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UAE

According to Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade,  Ecuador will be an important addition to the UAE's  and CEPA program – with its strategic trade routes connecting South America, Asia and Europe. The deal will aim to boost non-oil trade beyond last year's $675m, up 76% on 2022, and maximise opportunities in critical sectors

As the  UAE's foreign trade agenda is deepening ties with high-growth markets around the world.   

In wam reports  In 2023, non-oil bilateral trade between the UAE and Ecuador surged to $675 million, marking a remarkable 76% increase compared to 2022 and more than tripling the figures recorded in 2021. Furthermore, Dubai Ports World's substantial investment in Ecuador's Port of Posorja, valued at $1.2 billion, is a testament to the burgeoning economic ties between the two countries.

Sonsoles Garcia also  mention  Minister Garcia emphasised the enduring and evolving trade ties between Ecuador and the UAE, driven by mutual interests in advancing cooperation across various economic domains.

She added that the initiation of CEPA negotiations with the UAE represents a pivotal step in expanding economic ties, with active participation from both countries' business communities, private sectors, and investors.


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