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UAE Cabinet approves AED292.5 billion Federal General Budget Plan for 2027-2029
13.10.2026

UAE Cabinet approves AED292.5 billion Federal General Budget Plan for 2027-2029

DUBAI, 12th October, 2026 (WAM) -- The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has approved the Federal General Budget Plan for 2027-2029, with a total outlay of AED292.5 billion.The Cabinet also approved the Federal General Budget Plan for fiscal year 2027, totalling AED90.1 billion, as part of the 2027-2029 budget plan.The approvals abide by the latest provisions and measures pertaining to the Ministry of Finance as per the Federal Decree-Law No. (26) of 2019 on Public Finance in its amended form, as well as related resolutions and recommendations.The 2027-2029 Federal General Budget cycle aims to advance fiscal sustainability and resilience for a more prosperous future, achieve global leadership in government financial performance, and consolidate the UAE's international standing through effective and influential partnerships.The draft Federal General Budget also aims to enable federal entities to utilise their approved allocations and implement their objectives and programmes in line with the 2027-2029 strategic plan. It seeks to deliver the best possible outcomes across economic, social, environmental and service-related areas while advancing the UAE's global competitiveness.H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, said the 2027-2029 Federal General Budget Plan and the Federal General Budget for fiscal year 2027 should be measured not simply by the scale of their financial resources, but by the quality and scale of the sustainable impact they deliver across society.He noted that the central objective of the new three-year spending plan is to enhance the efficiency of government tools and accelerate development initiatives and projects that deliver the highest standards of quality of life for citizens and residents."The allocations for social development, particularly education and healthcare, reflect the wise leadership's commitment to sustained investment in people. They will ensure the delivery of efficient, proactive government services that promote social cohesion while advancing the UAE's competitiveness and the objectives of the 'We the UAE 2031' vision," Sheikh Maktoum said.He added that the budget plan places particular emphasis on harnessing artificial intelligence and financial data analytics, while simplifying requirements to ensure the resilience of the national economy amid global economic shifts."We are not spending simply to meet the needs of today. We are investing in a proactive government services ecosystem that exceeds expectations and reinforces the UAE's global leadership," he added.H.H. Sheikh Maktoum stressed that the UAE's financial model rests on a careful balance between driving economic growth, funding strategic projects and maintaining the highest standards of fiscal discipline, while updating tax and development-related legislation. This approach, he said, contributes to greater economic stability and enhances the UAE's competitiveness on the international stage.Meanwhile, Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, said the 2027-2029 Federal General Budget Plan and the 2027 budget reflect a significant shift in the management of public resources to ensure greater agility and a more strategic approach to directing expenditure over the medium term."In preparing this financial plan, in coordination with all federal entities and following the directives of the UAE General Budget Committee, we focused on empowering federal ministries and institutions and equipping them with the tools and solutions needed to achieve their operational and strategic objectives in line with the highest standards of governance and future readiness. This will ensure the optimal use of federal resources while advancing the UAE's fiscal sustainability," Al Hussaini added.The Federal General Budget for fiscal year 2027 is distributed across a number of key sectors, with allocations designed to enhance quality of life for all members of society.The Social Development and Pensions Sector has been allocated AED34.6 billion, representing 38.4% of the total budget. This includes allocations equivalent to 18.8% of the total budget for public and university education programmes, 6.7% for healthcare, 6.4% for pensions, 4.4% for social affairs and 2.1% for public services.A further AED29.1 billion, or 32.3% of the total budget, has been allocated to the Government Affairs Sector, while AED17.8 billion, representing 19.7% of the overall budget, has been earmarked for Federal Expenses.The Financial Investments Sector will receive AED5.6 billion, equivalent to 6.2% of the budget, while AED3 billion, or 3.4% of the budget, has been allocated to the Infrastructure and Economic Sector.The Federal Government's new strategic planning cycle places digital transformation at its core, with the UAE leading regionally and globally in the adoption of advanced technologies and the use of artificial intelligence across government and economic activities, and planning and financial analysis.The planning cycle also aims to drive greater financial efficiency across the Federal Government and position the federal budget as a strategic tool for future readiness, supporting sustainable growth and taking government services to unprecedented levels.The distribution of expenditure across key sectors underscores the UAE's commitment to a balanced development model that safeguards both economic and social stability.The UAE seeks to build a diversified and resilient economy capable of adapting to global shifts while investing in people as the fundamental pillar of development. The new budget cycle therefore prioritises the allocation of resources to sectors with a direct impact on people's lives, including healthcare, education, infrastructure, and social services. This approach will further enhance the UAE's competitiveness and consolidate its position as one of the most stable and growing economies both regionally and globally.

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European Union, China reach agreement on exports of cars, rare earth metals
10.10.2026

European Union, China reach agreement on exports of cars, rare earth metals

BRUSSELS, 9th October, 2026 (WAM) -- The European Union and China reached an agreement on Friday that will curb China's booming hybrid car exports, delivering a breakthrough in negotiations aimed at rebalancing their trade relationship.The announcement came as Trade Commissioner Maroš Šefčovič wrapped up two days of talks in Beijing, the culmination of a push launched in June to narrow the bloc's €1 billion-a-day trade deficit with China."We have reached a shared understanding to moderate China's export of hybrids and plug-in hybrids to the European Union. This opens the prospect of cutting China's exports by more than a half," Šefčovič told reporters.Šefčovič said that Beijing had also agreed to lower duties on European goods worth €4 billion, ranging from olive oil to footwear, a move that would save exporters €225 million."It is a crucial first step," he said. "But only a first step in the process of rebalancing."The EU's trade deficit with China totaled nearly €360 billion in 2025, and is already up 12 percent so far this year.China's automotive exports to the EU, which totaled €15.1 billion last year, are only a fraction of that.The two sides plan to meet again in March 2027.

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Investopia Bridge 2026 concludes with seven investment cooperation agreements
08.10.2026

Investopia Bridge 2026 concludes with seven investment cooperation agreements

ABU DHABI, 8th October, 2026 (WAM) -- Investopia Bridge 2026 concluded in Abu Dhabi with the participation of more than 800 officials, investors, entrepreneurs, and economic experts, including over 30 speakers comprising ministers, policymakers, investors, business leaders and experts from the UAE and around the world. The event witnessed the signing of seven MoUs between leading companies, institutions and entities at the local, regional and global levels, alongside 10 panel discussions and eight roundtable meetings.Held at Park Hyatt Abu Dhabi - Saadiyat Island under the theme "Investing in a More Resilient World," the event also saw the launch of several initiatives and reports supporting investment opportunities, strengthening economic cooperation between the UAE and key regional and global markets, and opening new avenues for growth across new economy sectors.In this context, Abdulla bin Touq Al Marri, Minister of Economy and Tourism and Co-Chair of Investopia, affirmed that the outcomes and partnerships forged through Investopia Bridge 2026 reflect the UAE's commitment to continued economic openness to the world, building sustainable investment partnerships with global markets, strengthening the connection between capital and opportunity, and supporting the growth of high-potential companies and sectors. These efforts contribute to strengthening economic resilience and enhancing the economy's ability to adapt to rapid global transformations.He said: "The discussions and roundtables held as part of this distinguished event reaffirmed the importance of strengthening cooperation between governments, the private sector and investors to develop new solutions to economic challenges and transform global shifts into opportunities for growth and investment. The UAE will continue to play its role in connecting investors and companies with new opportunities and developing long-term partnerships that support sustainable growth and enhance the competitiveness of the new economy, further strengthening the confidence of investors and business leaders from around the world in our business and investment environment."In detail, Investopia Bridge 2026 featured 10 panel discussions addressing a broad range of key economic and investment topics, including emerging economic trends, strengthening confidence as a key driver of investment flows, the role of boards in navigating global transformations, the experiences of UAE companies in the new economy and global markets, financing the new economy, the next generation of asset classes, global capital trends, tourism and the experience economy.The event also featured eight roundtable meetings covering specialised topics related to growth, investment and innovation. These included opportunities for UAE companies to expand and access capital and markets, strengthening investment opportunities between the UAE and Uzbekistan, and moving innovative solutions from pilot stages to large-scale commercial application.The discussions addressed challenges and opportunities for SMEs, developing capital and investment bridges between the UAE and the UK, the future of digital financial infrastructure and digital assets, family office strategies, electric mobility and the circular economy, as well as the development of the impact investment ecosystem.In the presence of Abdulla bin Touq Al Marri, UAE Minister of Economy and Tourism and Co-Chair of Investopia; and Mohamed Hassan Alsuwaidi, UAE Minister of Investment and Co-Chair of Investopia, the event witnessed the signing of seven agreements and memoranda of understanding, reflecting the diversity of economic and investment cooperation, strengthening partnerships between the UAE and global markets and supporting the growth of new economy sectors.The agreements included a Memorandum of Understanding between the UAE Ministry of Investment and Italy's Ministry of Enterprises and Made in Italy to strengthen investment cooperation across industrial and manufacturing sectors, including advanced manufacturing and emerging technologies, artificial intelligence, robotics, fintech, biotechnology and life sciences.The MoU was signed by Mohamed Hassan Alsuwaidi, UAE Minister of Investment and Co-Chair of Investopia; and Adolfo Urso, Minister of Enterprises and Made in Italy.Another agreement was signed between KEZAD Group and Scottish Enterprise, Scotland's national economic development agency, to establish a Scottish Energy Transition Centre in Abu Dhabi. The initiative will strengthen cooperation in energy, innovation and the transition towards a more sustainable economy, with KEZAD providing the infrastructure and workspace required for the centre.The partnership between LuLu Money and Mastercard is aimed at developing an integrated financial ecosystem dedicated to supporting SMEs in the UAE. The initiative will combine dedicated business accounts, financial solutions and advisory expertise to support the growth and expansion of companies.In the investment and financial markets sector, Investopia and China Securities International announced the signing of a Memorandum of Understanding to strengthen cooperation in investment and capital markets. The announcement coincided with the opening of the company's UAE office, representing its first international office outside of China.The Future100 initiative signed three MoUs during the event with Nuwa Capital Limited, Global Ventures and Carta, aimed at expanding partnerships supporting companies listed under the initiative. The partnerships will contribute to strengthening their growth and expansion opportunities, developing business and partnerships, and participating in the evaluation of companies seeking entry into the list.The partnerships will also provide specialised services supporting companies' readiness for funding rounds, valuation, compliance and equity management, as well as training and mentorship programmes.Under the cooperation memorandum with Global Ventures, the company committed to allocating at least USD 1 million to invest in one or more companies listed under the initiative. Meanwhile, Carta will provide eligible companies with a 25 per cent discount on the annual subscription to its platform during the first year, subject to the specified terms and conditions.Investopia Bridge 2026 also witnessed the launch of the UAE-based HAL project, which aims to support SMEs and strengthen their ability to grow, expand and benefit from specialised financial and technology solutions. The project was developed by SC Ventures, in collaboration with Mashreq's New Ventures and LuLu Financial Holdings, with strategic partnerships from Beehive, Microsoft, Visa and Aramex.The event also saw the launch of the "China-Arab Business and Investment Report 2026," prepared by Investopia in collaboration with the Sino International Entrepreneurs Federation (SIEF) and supported by HSC Asset Group.The report aims to provide insights and indicators on developments in the business and investment environment and track key trends and opportunities across Chinese and Arab markets. It seeks to strengthen prospects for economic and investment cooperation and support the development of new partnerships between business communities on both sides.In addition, the Future100 initiative announced the launch of a report outlining the growth stages of companies listed under the initiative and the economic sectors in which they operate.The report also highlights the ecosystem of partners supporting the initiative and their role in supporting companies throughout their different stages of growth. It includes a range of indicators and data tracking the development of participating companies and the diversity of their business activities, reflecting their growth trajectories and potential across priority sectors of the new economy.Investopia Bridge 2026 concluded by reaffirming the importance of building new bridges connecting economies, companies and investors with opportunities, strengthening capital flows and long-term investment, identifying new pathways for growth and investment, and developing innovative financing solutions supporting the new economy.The event also highlighted the importance of expanding investment across emerging asset classes, private finance, infrastructure, digital assets and venture capital, strengthening the resilience of economies and their ability to respond to global economic and technological transformations and turn them into sustainable opportunities for growth and investment.Investopia also announced that its flagship edition will take place in Abu Dhabi in March 2027, building on the outcomes and partnerships of Investopia Bridge 2026 and further strengthening its role in connecting investors, companies and policymakers with new investment opportunities.Investopia 2027 will continue to support dialogue around developing new pathways for growth and investment, contributing to reinforcing the UAE's position as a global platform for the new economy.

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Bangladesh's Chittagong Port Authority, DP World sign 15-year concession for New Mooring Container Terminal
08.10.2026

Bangladesh's Chittagong Port Authority, DP World sign 15-year concession for New Mooring Container Terminal

DHAKA, Bangladesh, 8th October, 2026 (WAM) -- The Chittagong Port Authority (CPA) and DP World have signed a 15-year concession agreement for the operation and maintenance of the New Mooring Container Terminal (NCT) including Overflow Container Yard (NCT OCY) at Chittagong Port under a Public-Private Partnership (PPP) framework. The partnership is expected to enhance terminal performance, strengthen Bangladesh's trade and logistics capabilities, and improve connectivity with regional and global markets.The agreement was signed today by Rear Admiral S. M. Moniruzzaman, Chairman of the Chittagong Port Authority, and Essa Kazim, Executive Chairman of DP World; in the presence of Shaikh Rabiul Alam, Minister of Shipping of the People's Republic of Bangladesh; Invest Bangladesh Chairman Ashik Chowdhury, Yuvraj Narayan, Group Chief Executive Officer of DP World; Rizwan Soomar, Chief Executive Officer and Managing Director of DP World's Subcontinent, Central Asia, Levant and Egypt region, and other senior government and business leaders.The New Mooring Container Terminal will remain under the ownership of the Chittagong Port Authority, with DP World responsible for its operation and maintenance under the 15-year concession. The partnership will enable Bangladesh to leverage DP World's global expertise, operational capabilities and technology to enhance terminal performance, improve supply chain efficiency and support the country's growing trade and logistics requirements.The collaboration builds on the 2019 Memorandum of Understanding between the Government of Dubai and the Public-Private Partnership Authority under the Prime Minister's Office of the People's Republic of Bangladesh, aimed at advancing strategic infrastructure development through Public-Private Partnership initiatives across the country.Rear Admiral S. M. Moniruzzaman, Chairman of the Chittagong Port Authority, said: "This partnership reflects our commitment to strengthening Bangladesh's maritime and trade infrastructure through the Public-Private Partnership framework. The New Mooring Container Terminal plays a critical role in supporting the country's trade and logistics ecosystem, and this agreement will enhance operational performance, ease logistics constraints, and strengthen connectivity with international markets. By supporting domestic industry and facilitating more efficient trade flows, the partnership will strengthen Bangladesh's position in regional and global supply chains while creating a stronger platform for investment and long-term economic growth."Essa Kazim, Executive Chairman of DP World, said: "We thank the Government of Bangladesh and the Chittagong Port Authority for awarding this concession on the Public Private Partnership model. Bangladesh is an increasingly important trading and manufacturing economy, and we are committed to supporting its continued development. Through this partnership, DP World will connect the New Mooring Container Terminal to our global network of ports, logistics infrastructure and supply chain services, helping create more seamless links between Bangladesh and international markets. By combining our operational expertise, technology and end-to-end logistics capabilities, we aim to support trade, attract investment and create new opportunities for businesses across the country."Ashik Chowdhury, Chairman of Invest Bangladesh, said: "Our objective is to move trade at global speed. Bringing DP World into New Mooring Container Terminal is an important step in that direction. We at Invest Bangladesh are pleased to have supported this major port PPP. We want faster operations, stronger connectivity and higher standards at one of our most important trade gateways. For Bangladesh, it means a port system better equipped for the scale of trade we want to build."DP World is a leading provider of integrated logistics and supply chain solutions, with a global network of more than 60 ports and terminals handling nearly 10% of global container traffic. Its capabilities span Ports and Terminals, Marine Services, Logistics and Technology, connecting businesses and markets across global supply chains.Development plan includes upgrades to the terminal's civil and equipment infrastructure, deployment of digital solutions and operational enhancements designed to improve cargo handling efficiency and support growing trade volumes. Working closely with the Chittagong Port Authority, DP World will focus on key operational areas including berth planning, yard management equipment utilisation, preventive maintenance, safety and sustainability.The partnership is expected to support local workforce development, skills development and the introduction of international operating practices. It will also create opportunities for local businesses and workers to participate more actively in regional and global supply chains.

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UAE, Thailand conclude CEPA negotiations, opening new horizons for trade, investment
08.10.2026

UAE, Thailand conclude CEPA negotiations, opening new horizons for trade, investment

BANGKOK, 8th October, 2026 (WAM) -- The United Arab Emirates and the Kingdom of Thailand have successfully concluded negotiations on a Comprehensive Economic Partnership Agreement (CEPA), marking a significant milestone in bilateral relations and paving the way for a new phase of trade and investment cooperation between two of the most dynamic economies in their respective regions.The conclusion of negotiations was announced in Bangkok during a meeting between Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade; Anutin Charnvirakul, Prime Minister of the Kingdom of Thailand; and Suphajee Suthumpun, Deputy Prime Minister and Minister of Commerce of the Kingdom of Thailand in the presence of Obaid Saeed Al Dhaheri, UAE Ambassador to the Kingdom of Thailand. The two sides discussed ways to strengthen bilateral trade and investment ties, and reviewed opportunities to expand cooperation and deepen partnerships between the business communities of both nations.Al Zeyoudi said, "The conclusion of negotiations on the UAE-Thailand CEPA embodies our shared commitment to building stronger economic bridges between Southeast Asia and the Middle East. Thailand is one of the most dynamic and diversified economies in the region, and this agreement will open new avenues for companies, investors and entrepreneurs in both countries to expand and access high-growth markets."He added, "By reducing trade barriers, enhancing market access and stimulating investment flows, the CEPA will support our long-term economic objectives and generate new opportunities across a wide range of strategic sectors. It will also reinforce the UAE's position as a leading global hub for trade and investment, connecting markets across Asia, Africa and Europe."PM Charnvirakul emphasised the importance of the CEPA in elevating economic and trade relations between Thailand and the UAE to new levels, noting that the successful conclusion of negotiations reflects the commitment of both countries to continue working together and to expand cooperation for mutual benefit.He affirmed that the agreement will create new opportunities for the private sector and business communities in both countries, strengthen partnerships and two-way investment, and support economic growth, while enhancing the competitiveness of Emirati and Thai companies in each other's markets and across the wider region.During the visit, Al Zeyoudi held a series of meetings with leading Thai companies and institutions operating across the trade, investment, industrial and services sectors. Discussions focused on strengthening partnerships and two-way investment, capitalising on the opportunities the CEPA will create, and expanding the presence of Emirati and Thai companies in each other's markets, supporting the development of supply chains, increasing trade and investment flows, and creating new growth opportunities for the private sector.Once signed, ratified and entered into force, the UAE-Thailand CEPA is expected to accelerate trade flows, unlock new investment opportunities and strengthen private sector cooperation in priority sectors including advanced manufacturing, logistics, food security, digital trade, renewable energy and precious metals.The conclusion of negotiations comes amid strong momentum in bilateral trade. Non-oil trade between the UAE and Thailand reached US$12.3 billion in 2025, a 65.2 percent increase on 2024, and continued its upward trajectory in the first half of 2026, reaching US$10.2 billion, up 75.4 percent on the same period of 2025.UAE non-oil exports to Thailand rose to $4.5 billion in 2025, driven by strong growth in gold, aluminium products and other industrial goods, while imports from Thailand reached $7.2 billion. These figures reflect the growing integration of the two economies and the scale of opportunity the agreement can unlock.In the coming phase, both sides will finalise the legal and technical procedures required for the official signing and entry into force of the agreement, which is expected to deliver a more stable and attractive business environment and create new opportunities for companies and consumers in both countries.The CEPA programme is a key pillar of the UAE's foreign trade agenda, which aims to increase non-oil foreign trade to $1.1 trillion (AED4 trillion) by 2031.Since the programme's launch in September 2021, the UAE's network of trade partnerships has expanded across Asia, Africa, Europe and the Americas, reflecting its commitment to open, rules-based trade as a driver of economic growth and diversification and a means of creating new opportunities for businesses in high-growth markets worldwide.

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Uzbekistan works with UAE to develop Trans-Afghan Railway to accelerate flow of goods from Asia to Europe: Uzbek Investment Minister
08.10.2026

Uzbekistan works with UAE to develop Trans-Afghan Railway to accelerate flow of goods from Asia to Europe: Uzbek Investment Minister

ABU DHABI, 7th October, 2026 (WAM) --Laziz Kudratov. Minister of Investment, Industry and Trade of the Republic of Uzbekistan, said that his country is working with the UAE to develop the Trans-Afghan Railway, noting that the project represents an opportunity to connect South Asia with the Eurasian continent and enable the transportation of goods from India to Europe around two weeks faster than the traditional route.Speaking during a panel discussion at Investopia Bridge 2026 in Abu Dhabi, he said Uzbekistan is working with its partners, including the UAE and France, to develop projects and initiatives aimed at diversifying trade routes and transport corridors. He expressed confidence in the success of these efforts.He noted that Uzbekistan began construction around a year and a half ago on a major railway linking China, Uzbekistan and the GCC countries. The project, he explained, will reduce the time required to transport goods from East to West by at least 10 days and shorten the current route by approximately 900 kilometres.He explained that Uzbekistan has attracted growing interest from foreign investors over the past decade, supported by the country's stability and the strength and diversity of its economy. He noted that average GDP growth exceeds 7%, reaching 7.7% last year and 8.5% during the first half of this year. GDP has doubled over the past nine years, and Uzbekistan aims to double it again by 2030.He added that Uzbekistan continues to work with its partners to diversify trade routes and transport corridors, noting that these projects and initiatives aim to develop new routes for the movement of goods and strengthen connectivity between markets.

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Global Food Week 2026 opens with major deals, strong attendance and high-level knowledge exchange
07.10.2026

Global Food Week 2026 opens with major deals, strong attendance and high-level knowledge exchange

ABU DHABI, 6th October, 2026 (WAM) -- The opening day of Global Food Week 2026 concluded with a diverse programme of educational sessions, ministerial panel discussions and keynote addresses that explored the future of sustainable food systems, food security and innovation across the global agri-food sector.Organised by ADNEC Group in strategic partnership with the ADAFSA, the event will run until October 8 at the ADNEC Centre Abu Dhabi, bringing together the entire food and beverage industry together.Throughout the day, government entities, industry leaders and international organisations signed a series of agreements covering distribution agreements, manufacturing deals and strengthening supply chains, highlighting the event's ability to facilitate meaningful collaboration and drive innovation, trade and sustainable growth across the food value chain.The second edition of the Global Food Security Summit official opened, with senior officials and industry leaders in attendance. Day one of the Global Food Security Summit focussed on international cooperation for global food security, featuring leading discussions on transforming food security. Held under the theme "Global Collaboration for Food Security for All," the two-day summit examines the policies, partnerships and investments required to build more resilient, inclusive and sustainable food systems capable of addressing the growing challenges facing food security worldwide.Within Global Food Week the 12th edition of the Abu Dhabi Date Palm Exhibition (ADDPE) continues to reinforce its position as a leading platform for the global date palm industry by bringing together producers, suppliers, buyers and industry leaders from across the value chain. Through opportunities to showcase new products, explore innovative technologies, connect with key decision-makers and access new markets, ADDPE provides a dynamic environment for business growth, knowledge exchange and collaboration, while supporting the long-term development, sustainability and international competitiveness of the date palm sector.Within the Agritech and Farmers sector, the Agritech Forum featured several sessions that brought together experts, innovators, and policymakers to explore. AgriTech Forum sessions examined mechanisms for stimulating investment in promising agricultural technologies and strengthening links between research institutions and the needs of industry and markets. Discussions focused on facilitating the transition of scientific research outcomes into scalable projects and products, while highlighting the importance of integrating research, investment and technology to develop solutions that create economic value and address key challenges facing the agricultural sector.With a packed programme of exhibitions, conferences, networking opportunities and business-matching activities still to come, the event is expected to generate further partnerships, investment opportunities and knowledge exchange, reinforcing Abu Dhabi's position as a global hub for food innovation and collaboration.Global Food Week will continue until 8 October at ADNEC Centre Abu Dhabi, bringing together policymakers, industry leaders, innovators, investors and international organisations to explore the future of food security, sustainable agriculture and food systems.

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GCC countries record world's highest outward workers' remittances at US$161 billion
04.10.2026

GCC countries record world's highest outward workers' remittances at US$161 billion

MUSCAT, 4th October, 2026 (WAM) -- Gulf Cooperation Council (GCC) countries collectively recorded the world's highest value of outward workers' remittances in 2025, totalling approximately US$161 billion, representing growth of 13.6 percent compared with 2024 and an increase of approximately US$19 billion, according to the report "Outward Workers' Remittances from the Gulf Cooperation Council Countries, 2025", issued by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat).The report noted that total workers' remittances from GCC countries rose for the second consecutive year, following the decline recorded in 2023, reaching their highest level in 2025. This rise comes amid the continued attraction of expatriate workers, alongside the expansion of economic activities associated with infrastructure projects, services, industry and non-oil sectors.Workers' remittances as a percentage of the gross domestic product (GDP) of GCC countries stood at approximately 6.6 percent in 2025, compared with approximately 6.0 percent in 2024, 5.7 percent in 2023 and 5.6 percent in 2022. The report noted that this ratio reflects the relative weight of workers' remittances in relation to the size of GCC economies and does not, in itself, indicate an improvement or deterioration in economic performance.The global standing of GCC countries is evident when their total outward remittances are compared with the remittance values recorded by a number of major economies individually. Outward workers' remittances from the United States of America amounted to approximately US$107 billion, Switzerland approximately US$43 billion, Germany approximately US$27 billion and France approximately US$21 billion, according to the data presented in the report.The significance of these remittances extends beyond their direct financial value, as they help support household incomes, consumption, and economic and social stability in recipient countries. They also reflect the GCC's regional economic weight, its role in global financial flows and its connection to the global economy.

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