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8/26/24, 4:54 PM UAE's first-half non-oil foreign trade hits record $381bn on growing Cepa deals | The National
UAE's first-half non-oil foreign trade hits record $381bn on growing Cepa deals

Trade rose by 10 per cent with India, 15 per cent with Turkey, and 41 per cent with Iraq

Sarmad Khan
25 August, 2024

The UAE's non-oil foreign trade hit a record Dh1.4 trillion ($381.5 billion) in the first six

months of this year as the Arab world’s second-largest economy continues to diversify its

economy and forge closer trade ties with partners around the world.

A 25 per cent year-on-year surge in non-oil exports from the Emirates helped the

aggregate non-oil foreign trade rise 11.2 per cent on an annual basis, the Government
Media Office said on Sunday.

Contribution of non-oil exports to total trade reached 18.4 per cent, up from 16.4 per cent

recorded at the end of the first half last year.

"The figures for the first half of 2024 show that our exports in just six months have

equalled what we used to export in an entire year before the Covid-19 pandemic in
2019,” Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said.

The UAE, as part of its national economic goals, is pursuing the target of Dh4 trillion in

foreign trade by 2031. The country continues to diversify its economic base and has

forged closer economic ties with its top trading partners.

Cepa impact

It has signed a series of comprehensive economic partnership agreements (Cepas) with

fast-growing economies in Asia, the Middle East and Africa that has helped in boosting

the volumes of the non-oil foreign trade over the past few years.

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