UAE Approaches $1.1 Trillion Trade Goal Ahead of Schedule

The United Arab Emirates (UAE) is poised to surpass its ambitious economic targets well ahead of time, driven by a significant surge in non-oil trade. Under the leadership of President Sheikh Mohamed bin Zayed Al Nahyan, the country's non-oil foreign trade has consistently achieved remarkable growth.

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, highlighted this progress, stating, "The UAE's non-oil foreign trade grew by 18.6 percent year-on-year in the first quarter this year, marking AED835 billion ($227.5 billion), a significant leap beyond the global average of 2-3 percent. Non-oil exports alone have surged annually by 41 percent."

Projected Trade Milestones

"The goal to elevate non-oil foreign trade to AED4 trillion ($1.1 trillion) by 2031 is on track to be achieved within the next two years, four years ahead of schedule," he added. In 2024, the UAE's GDP expanded by 4 percent, reaching AED 1.77 trillion ($482 billion), with the non-oil sector contributing 75.5 percent to the national economy.

Sheikh Mohammed further underscored the UAE's robust economic trajectory under the guidance of Sheikh Mohamed bin Zayed Al Nahyan. "Our economic growth is unprecedented, with indicators of stability and prosperity reaching historical heights. We are optimistic about a brighter future fueled by dedicated teams working towards our global ambitions," he stated.

During the first quarter of 2025, the UAE's non-oil foreign trade continued its upward trend, achieving AED835 billion ($227.5 billion), an increase of 18.6 percent year-on-year from Q1 2024. Non-oil exports, noteworthy in their historical growth, hit AED177.3 billion ($48.3 billion), a year-on-year increase of 40.7 percent and a quarterly rise of 15.7 percent compared to Q4 2024.

This strong performance marked a historic milestone, with non-oil exports comprising over 21 percent of total non-oil foreign trade for the first time, outpacing both imports and re-exports. While imports grew by 17.2 percent year-on-year, reaching AED468.6 billion ($127.6 billion), they saw a slight decrease of 1.7 percent from the previous quarter.

Trade with the UAE's top 10 trading partners rose by 20.2 percent in the first quarter of 2025 compared to a 16.9 percent increase with other nations. Notable gains were seen with India (31 percent), Saudi Arabia (127 percent), Türkiye (8.3 percent), and China (9.6 percent), all surpassing previous trade records.