UAE - Mubasher: Banks operating in the UAE have provided the wholesale trade sector with facilities worth AED 3.7 billion in the first quarter (Q1) of 2020, up 3.7% when compared to December 2019, Emirates News Agency (WAM) reported.

The total facilities offered to the sector rose to approximately AED 108.5 billion by the end of March 2020, as shown by the statistics of the Central Bank of the UAE (CBUAE).

Meanwhile, the production of wholesale and retail trade and the repair of motor vehicles in the UAE grew by 1.2% to AED 186.5 billion at fixed prices, compared to AED 184.3 billion in 2018, according to the Federal Competitiveness and Statistics Authority (FCSA).

The wholesale trade sector has contributed to around 17.8% of the total production of the non-oil activities by the end of 2019.