DUBAI: His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the United Arab Emirates (UAE) and Ruler of Dubai, affirmed that the target of AED4 trillion in non-oil foreign trade will be met within the next two years—four years ahead of schedule.
UAE’s earlier target was to achieve it by 2031 but in the first quarter of 2025, the non-oil foreign trade surged by 18.6 per cent year-on-year, reaching an outstanding AED835 billion. This performance far exceeds the global average growth rate of 2 to 3 per cent, underscoring the strength and resilience of the UAE’s economy.
Sheikh Mohammed has emphatically highlighted the nation’s remarkable economic progress under the leadership of President His Highness Sheikh Mohammed bin Zayed Al Nahyan.
Central to this impressive advancement is the UAE’s burgeoning non-oil foreign trade sector, which has consistently demonstrated record-breaking growth over recent years, reflecting the country’s successful diversification efforts beyond the oil industry.
Trade with partners booms
The nation’s non-oil exports, a critical component of trade, witnessed an exceptional annual increase of 41 per cent, marking a historic milestone by contributing over 21 per cent of the total non-oil foreign trade value for the first time.
This growth outpaced both imports and re-exports, highlighting the UAE’s expanding role as a global exporter and a dynamic player in international markets.
The UAE’s gross domestic product (GDP) in 2024 reached AED 1.77 trillion, growing by 4 per cent, with the non-oil sector making a substantial contribution of 75.5 per cent to the national economy. These figures demonstrate the effective implementation of economic policies designed to foster sustainable growth, diversification, and long-term stability.
Trade with the nation’s top ten trading partners, including India, Saudi Arabia, Turkiye, and China, experienced significant expansion during the first quarter of 2025. Notably, trade with Saudi Arabia more than doubled, growing by 127 per cent, while trade with India increased by 31 per cent. These robust partnerships underscore the UAE’s strategic positioning as a vital trade hub bridging East and West and enhancing regional cooperation.
The steady growth in re-exports and imports further solidifies the UAE’s status as a critical global trading nexus. Re-exports grew by 6 per cent annually to AED189.1 billion, while imports rose by 17.2 per cent year-on-year to AED468.6 billion, demonstrating sustained demand and dynamic trade activities within the nation.
