Page 295 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 2

UAE non-oil trade hits AED3 trillion in 2024

The UAE's non-oil foreign trade has continued its upward trajectory, reaching AED3 trillion ($816.77
billion) in 2024, with a record annual increase of 14.6% compared to 2023.

In statements to the Emirates News Agency (WAM), Dr Thani bin Ahmed Al Zeyoudi, Minister of
State for Foreign Trade, 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 reached
an all-time high of AED2.997 trillion, increasing by 14.6% on 2023 against a global trade growth
average of around 2.4%.

"The milestone also means we have achieved 75% of the AED4 trillion target set in the ‘We the UAE
2031’ national vision with seven full years remaining," he said.
“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

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