Record growth for UAE trade sector

Published June 10th, 2001 - 02:00 GMT

A recently published financial report by the Emirates Industrial Bank revealed that the trade sector in the UAE recorded a dramatic annual growth rate of 11 percent annum in the past decade, between the years 1990-1999.  

 

This is the highest growth rate achieved by a domestic commerce sector in world. Just few other countries managed to record more than ten percent growth in the commerce sector in the past decade, the Bank noted.  

 

Much like the trade sector, the UAE financial market is also on the upswing. According to Al-Bayan daily, 533 million Emirati dirhams ($145 million) worth of stocks were traded on the local market during the first third of 2001.  

 

The number of traded shares reached 36.34 million while the number of transactions executed amounted to 6,000 during the same period. ― (MENA Report)

© 2001 Mena Report (www.menareport.com)


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