Page 292 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 2

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2/24/25, 10:43 AM UAE's non-oil foreign trade continued its upward trajectory, reaching $816.8bln in 2024: Al Zeyoudi
75% of the AED4 trillion target set in the ‘We the UAE 2031’ national vision with seven full years
remaining."

“Of all the positive indicators, the most encouraging is the increasing contribution of non-oil exports to
our foreign trade. Last year, they climbed 27.6% in to reach a record AED561.2 billion – nearly 70% of

the AED800 billion target. Exports now comprise 18.7% of total trade, up from 16.8% in 2023 and 14.1%
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 centrepiece 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% and contributing 24% of our

total non-oil exports. India and Türkiye are the two leading destinations for non-oil exports.”

Al Zeyoudi concluded, “Importantly, the record trade figures posted in 2024 reflect the dynamism and
agility of our economy, one that has remained open to the world’s trade, talent and investment.
Moreover, they underline the fact that we are not only on the right path but paving the way for others to

follow – and we look forward to adding more CEPA partners in 2025 and beyond to share in this
success.”