Mohammed bin Rashid: UAE to hit trade target early
Exceptional growth in non-oil trade
His Highness highlighted that the UAE's non-oil foreign trade recorded a year-on-year growth of 18.6% in Q1 2025, reaching AED 835 billion—significantly outpacing the global average of 2–3%. Non-oil exports alone grew by an impressive 41% annually.
National trade goals shead of schedule
Sheikh Mohammed stated that the UAE's strategic goal of growing non-oil foreign trade to AED 4 trillion by 2031 is expected to be achieved within just two years—four years ahead of schedule. In 2024, the country's GDP grew by 4% to reach AED 1.77 trillion, with the non-oil sector contributing a dominant 75.5% to the national economy.
Confidence in continued prosperity
He emphasised that the UAE's economic performance is reaching new historic highs across various indicators of stability and prosperity. He attributed this momentum to the leadership of Sheikh Mohamed bin Zayed and the hard work of thousands of dedicated teams focused on realizing the UAE's global economic ambitions.
Q1 2025 trade performance overview
The UAE's non-oil foreign trade in the first quarter of 2025 (January to March) reached AED 835 billion, up 18.6% from Q1 2024. Non-oil exports totaled AED 177.3 billion—a 40.7% year-on-year and 15.7% quarter-on-quarter increase—accounting for over 21% of total non-oil trade for the first time in the nation's history.
Re-rxports and imports
Re-exports rose by 6% annually to AED 189.1 billion, while imports climbed 17.2% year-on-year to AED 468.6 billion, despite a 1.7% quarter-on-quarter decline.
Strong trade growth with key partners
Trade with the UAE's top 10 trading partners grew by 20.2% in Q1 2025, outpacing the 16.9% growth with other countries. Notable increases included India: up 31%, Saudi Arabia: more than doubled (127%), Turkiye: up 8.3%, and China: up 9.6%.
These figures underscore the UAE's growing role as a global trade hub and its success in diversifying economic partnerships.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sharjah 24
7 hours ago
- Sharjah 24
Mohammed bin Rashid: UAE to hit trade target early
Exceptional growth in non-oil trade His Highness highlighted that the UAE's non-oil foreign trade recorded a year-on-year growth of 18.6% in Q1 2025, reaching AED 835 billion—significantly outpacing the global average of 2–3%. Non-oil exports alone grew by an impressive 41% annually. National trade goals shead of schedule Sheikh Mohammed stated that the UAE's strategic goal of growing non-oil foreign trade to AED 4 trillion by 2031 is expected to be achieved within just two years—four years ahead of schedule. In 2024, the country's GDP grew by 4% to reach AED 1.77 trillion, with the non-oil sector contributing a dominant 75.5% to the national economy. Confidence in continued prosperity He emphasised that the UAE's economic performance is reaching new historic highs across various indicators of stability and prosperity. He attributed this momentum to the leadership of Sheikh Mohamed bin Zayed and the hard work of thousands of dedicated teams focused on realizing the UAE's global economic ambitions. Q1 2025 trade performance overview The UAE's non-oil foreign trade in the first quarter of 2025 (January to March) reached AED 835 billion, up 18.6% from Q1 2024. Non-oil exports totaled AED 177.3 billion—a 40.7% year-on-year and 15.7% quarter-on-quarter increase—accounting for over 21% of total non-oil trade for the first time in the nation's history. Re-rxports and imports Re-exports rose by 6% annually to AED 189.1 billion, while imports climbed 17.2% year-on-year to AED 468.6 billion, despite a 1.7% quarter-on-quarter decline. Strong trade growth with key partners Trade with the UAE's top 10 trading partners grew by 20.2% in Q1 2025, outpacing the 16.9% growth with other countries. Notable increases included India: up 31%, Saudi Arabia: more than doubled (127%), Turkiye: up 8.3%, and China: up 9.6%. These figures underscore the UAE's growing role as a global trade hub and its success in diversifying economic partnerships.
Gulf Today
7 hours ago
- Gulf Today
UAE non-oil foreign trade to grow to Dhs4tr by 2031, four years ahead of schedule: Mohammed
His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, affirmed that the UAE, under the leadership of President His Highness Sheikh Mohamed Bin Zayed Al Nahyan, continues its remarkable progress across all sectors, with the nation's booming non-oil foreign trade at the heart of this growth, achieving consistent record-breaking growth for several years. Sheikh Mohammed said: 'The UAE's non-oil foreign trade saw growth of 18.6% year-on-year in the first quarter of this year, reaching Dhs835 billion (global average is 2-3%). The nation's non-oil exports experienced exceptional growth, surging by 41% annually.' Sheikh Mohammed stated: 'Our goal to grow non-oil foreign trade to Dhs4 trillion by 2031 will be achieved within the next two years; four years ahead of schedule. In 2024, GDP grew by 4%, reaching Dhs1.77 trillion, with the non-oil sector contributing 75.5% to the national economy.' Sheikh Mohammed emphasised: 'Under the leadership of His Highness Sheikh Mohamed Bin Zayed Al Nahyan, the UAE's economic growth is achieving unprecedented success. Indicators of social, economic, and strategic stability and prosperity are at their highest historical levels. We are confident in an even brighter future, driven by the focused efforts of thousands of dedicated teams working to realize the UAE's global ambitions.' Continued record growth in Q1-2025 The UAE's non-oil foreign trade continued an upward trajectory in Q1 2025 (1 January to 31 March 2025), reaching Dhs835 billion, an 18.6% increase compared to Q1 2024. UAE non-oil exports continued to achieve historical growth rates, recording Dhs177.3 billion in Q1 2025, a 40.7% year-on-year increase (compared to Q1 2024) and a 15.7% quarter-on-quarter increase (compared to Q4 2024). This robust growth propelled non-oil exports to over 21% of the UAE's total non-oil foreign trade for the first time in the nation's history, outpacing the growth of both imports and re-exports. Re-exports saw a 6% annual increase, reaching Dhs189.1 billion. Imports grew by 17.2% year-on-year, reaching Dhs468.6 billion, but experienced a slight 1.7% decline compared to the previous quarter (Q4 of 2024). Trade with the UAE's top 10 trading partners continued to expand, growing by 20.2% in Q1 2025, compared to 16.9% growth with other countries. Trade grew with India by 31%, with Saudi Arabia by more than double at 127%, withTurkey by 8.3% - surpassing previous records - and with China by 9.6%.
Gulf Today
14 hours ago
- Gulf Today
Christopher Aleo emerges as potential buyer for Dubai's Palazzo Versace Hotel
Gulf Network The iconic Palazzo Versace Dubai, one of the most prestigious luxury hotels in the city, may soon change ownership. Known for its neoclassical architecture and interiors designed by the Italian fashion house Versace, the property has entered a public auction process due to the financial distress of its current ownership. The auction has drawn attention from various international players, and among the potential bidders is Christopher Aleo, a Swiss-Italian entrepreneur and founder of the international financial group iSwiss. However, the potential acquisition is not expected to be carried out directly by iSwiss Bank, but rather through its U.S.-based investment arm, the iSwiss Hedge Fund, headquartered in New York. According to market sources familiar with the matter, the fund is evaluating the opportunity as part of a broader financial strategy, which may include structuring the investment through a listed vehicle on the New York Stock Exchange (NYSE). A Strategic Real Estate Opportunity Located in Jaddaf Waterfront, just minutes from Dubai's financial district, Palazzo Versace is being offered at a base price of approximately AED 600 million (around USD 163 million), significantly below its previously reported valuation of over AED 1.3 billion. Despite the financial challenges facing the current owner, the hotel remains fully operational and continues to deliver high standards of hospitality. For investors, the property represents a prime real estate asset, combining strategic location, brand equity, and established luxury credentials. With 215 rooms and suites, multiple high-end restaurants, lounges, a spa, and views over Dubai Creek, the hotel has long been a preferred destination for international travelers, business leaders, and celebrities. Aleo's Role and the Hedge Fund Angle Christopher Aleo, founder and majority shareholder of the iSwiss Group, is a well-known figure in European financial circles and has had an increasing presence in Dubai's business environment in recent years. While he has made no official comment on the matter, his New York-based hedge fund is reportedly among the entities conducting due diligence on the potential acquisition. Industry analysts note that the deal, if completed, could be structured as a public investment vehicle listed on the NYSE, making it not only a hospitality acquisition but also a sophisticated financial transaction involving international capital markets. This model — integrating high-profile real assets into institutional investment frameworks — has become increasingly common among hedge funds and private equity firms, particularly in cases involving luxury or landmark properties. A Return to Italian Style and New Investment Should the acquisition materialize, the new ownership may consider a strategic repositioning of the hotel, involving significant reinvestments in both infrastructure and service offerings. Sources close to the matter suggest the potential for a refresh of the hotel's Italian design identity, with renewed focus on aesthetic coherence and luxury standards aligned with current global trends. The acquisition by a European-led fund could also represent a reintroduction of Italian influence into the brand's identity, preserving and enhancing the stylistic DNA originally conceived by Versace. Any such repositioning would likely be supported by fresh capital for renovations, branding updates, and enhanced guest services, aligning the hotel more closely with Dubai's rapidly evolving luxury hospitality landscape. No Official Statements At this stage, neither the current ownership of Palazzo Versace nor the iSwiss Group has issued formal statements regarding the potential deal. However, the market has taken note of the growing involvement of hedge funds and international financial players in Dubai's real estate and tourism sectors. The city continues to assert itself as a global hub for tourism, finance, and luxury, offering a fertile environment for cross-sector investment strategies that blend real estate, branding, and financial engineering. Institutional Finance Meets Luxury Real Estate If completed, the acquisition by iSwiss Hedge Fund would represent one of the most significant hospitality-related transactions in the Gulf region this year, further highlighting the convergence of institutional finance and the real economy. Such a move would also reflect a broader trend: financial groups increasingly looking to diversify portfolios by integrating tangible assets into structured investment frameworks, leveraging global equity markets as a source of liquidity and visibility. The coming weeks will likely determine whether this interest translates into a formal bid. If so, it would mark an important milestone for both the iSwiss Group and the hotel itself, setting the stage for a new chapter in the life of one of Dubai's most recognizable hospitality landmarks. For now, Christopher Aleo's name remains one of the most closely watched among potential buyers — a sign of how traditional finance is steadily expanding its footprint into high-end sectors like branded real estate and luxury travel.
