Page 373 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 2

2/20/25, 3:24 PM UAE’s non-oil foreign trade continued its upward trajectory, reaching AED3 trillion in 2024: Al Zeyoudi – The Gulf Time Newspaper
UAE’s non-oil foreign trade continued its upward

trajectory, reaching AED3 trillion in 2024: Al Zeyoudi

ABU DHABI/ WAM

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, stated that the UAE’s non-oil foreign trade has continued

its upward trajectory, reaching AED3 trillion in 2024, with a record annual increase of 14.6% compared to 2023.
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 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.”
“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
https://gulftime.ae/uaes-non-oil-foreign-trade-continued-its-upward-trajectory-reaching-aed3-trillion-in-2024-al-zeyoudi/ 1/2