UAE's non-oil foreign trade to hit $1.1trln by 2027, says report
UAE - HH 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, reported Wam.
The UAE's non-oil foreign trade continued an upward trajectory in Q1 2025 (January 1 to March 31, 2025), reaching AED 835 billion, up 18.6% increase compared to Q1 2024.
UAE non-oil exports continued to achieve historical growth rates, recording AED 177.3 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.
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 AED 835 billion (global average is 2-3%). The nation's non-oil exports experienced exceptional growth, surging by 41% annually," he stated.
"Our goal to grow non-oil foreign trade to AED 4 trillion by 2031 will be achieved within the next two years; four years ahead of schedule. In 2024, GDP grew by 4%, reaching AED 1.77 trillion, with the non-oil sector contributing 75.5% to the national economy," he added.
UAE's re-exports saw a 6% annual increase, reaching AED 189.1 billion. Imports grew by 17.2% year-on-year, reaching AED 468.6 billion, but experienced a slight 1.7% decline compared to the previous quarter (Q4 of 2024), said the Wam report.
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%, with Turkiye by 8.3% - surpassing previous records - and with China by 9.6%, it stated.
"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," said Sheikh Mohammed.
"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," he added.
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