UAE's 2031 non-oil foreign trade target will be achieved in 2 yrs: Sheikh Mohammed
Image: Dubai Media Office
The UAE's non-oil foreign trade surged by 18.6 per cent year-on-year in Q1 2025, reaching Dhs835bn, as the country accelerates toward its economic diversification targets ahead of schedule, according to Vice President and Prime Minister of the UAE and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum, Dubai Media Office (DMO) reported.
Sheikh Mohammed stated: 'The UAE's non-oil foreign trade saw growth of 18.6 per cent year-on-year in the first quarter of this year, reaching Dhs835bn (global average is 2-3 per cent). The nation's non-oil exports experienced exceptional growth, surging by 41 per cent annually.'
UAE's non-oil exports in Q1 2025
Non-oil exports recorded Dhs177.3bn in Q1 2025, a 40.7 per cent increase compared to Q1 2024 and a 15.7 per cent jump from the fourth quarter of 2024.
For the first time, non-oil exports represented over 21 per cent of the UAE's total non-oil trade, outpacing both imports and re-exports.
'Our goal to grow non-oil foreign trade to Dhs4tn by 2031 will be achieved within the next two years; four years ahead of schedule. In 2024, GDP grew by 4 per cent, reaching Dhs1.77tn, with the non-oil sector contributing 75.5 per cent to the national economy,' Sheikh Mohammed added.
Re-exports grew by 6 per cent annually to Dhs189.1bn, while imports reached Dhs468.6bn, up 17.2 per cent year-on-year but slightly down 1.7 per cent from Q4
According to the (DMO) report, Sheikh Mohammed reaffirmed the country's economic trajectory: 'Under the leadership of HH [UAE President] 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 realise the UAE's global ambitions.'
Mohammed bin Rashid Announces UAE's Key Development Indicators
— Dubai Media Office (@DXBMediaOffice)
UAE's top trading partners
Trade with the UAE's top 10 trading partners rose by 20.2 per cent in Q1 2025, surpassing the 16.9 per cent growth rate with other countries. Bilateral trade with India increased by 31 per cent, with Saudi Arabia by 127 per cent, with Turkiye by 8.3 per cent, and with China by 9.6 per cent, breaking previous records.
The UAE has reported consistent record-breaking non-oil trade performance for several years, underpinning its efforts to position itself as a global hub for commerce, investment, and logistics.
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