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UAE's foreign trade soars to AED 3 trillion in 2024 milestone

A historic leap in trade cements the UAE's global ambitions. With non-oil exports up 27.6%, the nation races toward its 2031 economic vision.

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1 min read
The image shows a graph depicting the lower expectations for future oil imports. The graph is...
The image shows a graph depicting the lower expectations for future oil imports. The graph is accompanied by text that provides further details about the data.

UAE's foreign trade soars to AED 3 trillion in 2024 milestone

The UAE's foreign trade reached a record AED 3 trillion by the end of 2024, marking a significant achievement in the nation's economic growth. This milestone reflects the country's strategic global partnerships, strong trade policies, and rapid expansion of non-oil sectors.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, attributed this unprecedented growth to the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, whose efforts have strengthened global economic ties.

Despite global trade expanding by only 2% in 2024, the UAE's foreign trade surged by 14.6%, far exceeding international trends.

Comprehensive Economic Partnership Agreements (CEPAs) Drive Expansion

A key driver behind this success has been the Comprehensive Economic Partnership Agreements (CEPAs), which contributed AED 135 billion to the UAE's non-oil trade-a 42% increase from 2023.

Sheikh Mohammed emphasized that the UAE is ahead of schedule in reaching its 2031 foreign trade target of AED 4 trillion, with 75% of the goal already achieved by 2024.

Strong Performance Across Non-Oil Sectors

The UAE's non-oil trade demonstrated impressive growth:

  • Non-oil exports soared to AED 561.2 billion, up 27.6% from 2023.
  • Re-exports reached AED 734.4 billion, reflecting a surge in trade activity.
  • Non-oil imports rose by 14.2%, driven by increased demand for gold, electronics, and automobiles.

The UAE's Vision for Global Trade Leadership

The UAE continues to strengthen economic partnerships worldwide, reinforcing its position as a leading global trade hub. This remarkable progress reflects the country's commitment to stability, economic diversification, and long-term prosperity.

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