UAE foreign trade surpasses historic Dh3 trillion

Dubai: The UAE’s foreign trade has soared to an unprecedented Dh3 trillion, marking a historic achievement by the end of 2024.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the record-breaking figures, underscoring the nation's economic strength and global trade leadership.

 “The UAE’s foreign trade has reached a historic milestone, touching Dh3 trillion for the first time by the end of 2024. My brother, His Highness Sheikh Mohammed bin Zayed, has spent years strengthening economic ties with nations worldwide… Today, we see the results. While global trade grew by just 2 per cent in 2024, the UAE’s foreign trade expanded at seven times that rate, achieving an impressive 14.6 per cent growth,” Sheikh Mohammed shared on his X account.

 “The Comprehensive Economic Partnership Agreements, Led by Sheikh Mohammed bin Zayed, added Dh135 billion to our non-oil trade with partner nations—an exceptional 42 per cent increase compared to the previous year. In 2021, we set a goal of reaching Dh4 trillion in annual foreign trade by 2031. By the end of 2024, we have already achieved 75 per cent of that target. At this pace, we will reach it years ahead of schedule. The UAE is shaping its own economic future, focusing on progress over politics. Our priority is to strengthen economic partnerships with nations around the world—because prosperity is built on stability. The UAE has a clear vision and bold ambitions. In this world, success belongs to those who know exactly where they are headed,” the Vice-President said.