The UAE’s non-oil foreign trade for the first half recorded solid growth, surging to over AED1.9 trillion ($517 billion), said a report. The emirates had last year attracted $48.3 billion in foreign direct investments, thus putting it ninth globally among the largest FDI destinations.
Growth in the non-oil private sectors of GCC economies accelerated in August, with output and new orders increasing at a faster pace and supplier delivery times improving, despite continued geopolitical uncertainty, according to top ratings agency S&P Global.
The UAE topped the list of Oman’s trading partners last year in non-oil exports - including chemicals, metals and machinery - as well as re-export activities, and merchandise imports, said a report. Other prominent trading partners included Saudi Arabia, India, China, Iran and UK.
The Kingdom of Saudi Arabia is projected to generate SAR1.15 trillion ($310 billion) in revenue in 2026, up 5.1% over the 2025 estimate, underscoring the gains from the country’s ongoing economic diversification agenda, said a report.
Oman's Gross Domestic Product (GDP) at constant prices grew 5.1% during the second quarter hitting RO9.9 billion ($25.6 billion), compared to about RO9.4 billion ($24.3 billion) for the same period in 2025, driven by a sharp increase in petroleum activity, said a report.
The Kingdom of Saudi Arabia's 40% budget and expenditures are now being financed by non-oil revenues, and notably, 90% of FDI in the country is non-oil, said its senior minister at the Future Investment Initiative (FII9) summit in Riyadh.
