UAE's Foreign Trade Hits $1.4 Trillion in 2024

 


The United Arab Emirates (UAE) has achieved a major milestone in 2024, reaching $1.4 trillion in foreign trade. This is a big jump from $949 billion in 2021. The increase shows how strong and fast the UAE’s economy is growing, especially in global trade.


One of the key reasons for this growth is the rise in non-oil trade. In 2024, non-oil foreign trade reached AED 3 trillion, which is about $817 billion. This shows that the UAE is working hard to grow other parts of its economy, not just depending on oil.


A big part of this success comes from the UAE’s trade deals with other countries. These are called Comprehensive Economic Partnership Agreements (CEPAs). Thanks to these deals, non-oil trade went up by AED 135 billion in 2024, which helped open new markets around the world.


Non-oil exports also saw a strong rise. In 2024, exports of non-oil goods were worth AED 561.2 billion, or about $153 billion. This was almost 28% higher than the year before, showing that UAE-made products are in demand globally.


The UAE also grew its trade with both its top partners and other countries. Trade with the top 10 partners grew by 10%, while trade with other countries jumped by over 19%. This helps make the UAE’s economy stronger and more balanced.


Looking forward, the UAE wants to reach AED 4 trillion in annual foreign trade by 2031. But if things keep going like this, the country might reach that goal even earlier. With strong planning and smart trade moves, the UAE is becoming a global trade leader.

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