Page 291 - MOE ENGLISH PR REPORT - AUGUST 2024

8/27/24, 2:55 PM UAE's non-oil foreign trade reaches record $379.81 billion in H1 2024
UAE’s non-oil foreign trade reaches record $379.81 billion in H1 2024
The country’s key exports like gold, jewelry, and metals have driven strong non-oil export growth, Al
Zeyoudi says

The CEPA program had played a key role in attaining these unprecedented results.
The UAE’s non-oil trade has reached new heights, with the value of its international commerce outside the oil and
gas sector hitting a record AED1.395 trillion ($379.81 billion) in the first half of 2024. This milestone represents
an 11.2 percent increase compared to the same period in 2023, underscoring the country’s economic
diversification efforts.
Commenting on this achievement, Dr. Thani bin Ahmed Al Zeyoudi, UAE’s minister of State for Foreign Trade,
said that the UAE’s non-oil foreign trade continues to set new milestones as a direct result of the country’s
conviction and the forward-thinking vision and commitment to global collaboration of its leadership.
Read more: India-UAE trade to hit $100 billion by 2027
Dr. Al Zeyoudi noted that the growth in the UAE’s non-oil exports has been particularly noteworthy, with a 25
percent increase to reach AED256.4 billion in the first half of 2024 compared to the same period in 2023. He
highlighted that key sectors, including gold, silver, jewelry, oils, perfumes, aluminum, copper wires, and iron
products, have led this impressive surge in non-oil exports, demonstrating the country’s enhanced global
competitiveness.

Dr. Thani bin Ahmed Al Zeyoudi, UAE’s minister of State for Foreign Trade. (Photo Credit: WAM)

Increasing re-export operations
Moreover, Dr. Al Zeyoudi noted that the UAE’s re-export operations had also increased, highlighting the
country’s status as a global trade hub and reflecting international confidence in the UAE as a reliable trade partner
and facilitator.
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