UAE foreign trade soars to AED3 trillion in historic milestone

DUBAI: By the end of 2024, the UAE’s foreign trade reached an unprecedented AED 3 trillion, a milestone announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE and Ruler of Dubai, on Wednesday.

Sheikh Mohammed shared this significant achievement on social media platform X, describing it as a “historic accomplishment.” He acknowledged the role of UAE President His Highness Sheikh Mohammed bin Zayed in enhancing the country’s global economic ties.

“While global trade saw only a 2 percent increase in 2024, the UAE’s foreign trade surged at a rate seven times greater, achieving a remarkable 14.6 percent growth,” he highlighted.

He also pointed to the positive influence of the Comprehensive Economic Partnership Agreements (CEPAs), which, under the leadership of Sheikh Mohammed bin Zayed, added AED 135 billion to the UAE’s non-oil trade, signifying a 42 percent rise compared to the previous year.

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Looking to the future, he outlined an ambitious economic vision, stating, “In 2024, we aim for AED 4 trillion in annual foreign trade by 2031. With 75 percent of that target already met by the end of 2024, we are on track to achieve it well ahead of schedule.”

Sheikh Mohammed emphasized the UAE’s distinctive economic strategy, asserting, “The UAE is crafting its own economic future, prioritizing progress over politics. Our focus is on strengthening economic partnerships with nations globally—because prosperity thrives on stability. The UAE is guided by a clear vision and bold ambitions. In this world, success is reserved for those who have a precise direction.”