Abu Dhabi, UAE — UAE’s non-oil foreign trade increased by a record 14.6 percent in 2024, compared to 2023, reaching AED 3 trillion ($816 billion), according to Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade.
In statements to the Emirates News Agency (WAM), Dr. Al Zeyoudi said, ‘’Guided by the strategic vision of the national leadership, the UAE’s foreign trade continues its remarkable upward trajectory. In 2024, our non-oil foreign trade increased by 14.6 percent against a global trade growth average of around 2.4 percent.”
“The milestone also means we have achieved 75 percent of the AED 4 trillion target set in the ‘We the UAE 2031’ national vision with seven full years remaining.”
He said that of all the positive indicators, the most encouraging is the increasing contribution of non-oil exports to UAE’s foreign trade.
“Last year, they climbed 27.6 percent in to reach a record AED561.2 billion – nearly 70 percent of the AED800 billion target. Exports now comprise 18.7 percent of total trade, up from 16.8 percent in 2023 and 14.1 percent in 2019. These numbers confirm the pace and scale of our economic diversification plans, in which we are investing new economic sectors, creating new products for export, and establishing new means of long-term value creation,” he added.
He further stated, “The expansion of foreign trade is the centerpiece of our national economic strategy and, through our Comprehensive Economic Partnership Agreement (CEPA) programme, we are expanding opportunities for our private sector by enhancing access to high-growth markets around the world. In 2024, we have been able to see the positive impact of this program. Total exports to CEPA partner countries reached AED135 billion in 2024, an increase of 42.3 percent and contributing 24 percent of our total non-oil exports. India and Türkiye are the two leading destinations for non-oil exports.