Abu Dhabi's Non-Oil Foreign Trade Achieves 9% Growth In 2024, Reaching AED306 Billion

Abu Dhabi Customs announced a 9% rise in the emirate's non-oil foreign trade for 2024, reaching AED306 billion, up from AED281.9 billion in 2023. This increase highlights the emirate's economic strength and expanding global trade relationships. Non-oil exports surged by 16%, hitting AED107.8 billion compared to AED93 billion the previous year.

Re-exports also saw an 11% boost, surpassing AED58 billion from AED52.4 billion in 2023, while imports rose by 3% to AED140.2 billion, up from AED136.4 billion. These figures underscore Abu Dhabi's business-friendly environment and effective trade facilitation measures that streamline processes and integrate government services seamlessly.

Rashed Lahej Al Mansoori, Director-General of Abu Dhabi Customs, highlighted the emirate's continued growth in non-oil foreign trade, reinforcing its status as a global business hub. He stated that Abu Dhabi Customs is committed to collaborating with strategic partners to support economic goals and facilitate trade expansion.

The number of customs declarations increased by 3% in 2024 compared to the previous year, with digital platform transactions rising by 17%. Additionally, proactive and automated transactions grew by 31%, making up a significant share of total customs activities. These advancements enhance efficiency and reduce operational costs for businesses.

Al Mansoori emphasised the importance of improving customs systems through innovative technologies to provide efficient services to companies and investors. These efforts contribute to strengthening the national economy and supporting the UAE's sustainable development goals.

Strategic Analysis and Policy Development

Abdulla Gharib Al Qemzi, Director-General of the Statistics Centre – Abu Dhabi, noted that collaboration between Abu Dhabi Customs and the Statistics Centre is vital for analysing foreign trade trends. "Abu Dhabi Customs, in collaboration with the Statistics Centre – Abu Dhabi, plays a crucial role in analysing foreign trade trends and assessing the impact of economic policies," he said.

The latest data reflects effective policy implementation, with Abu Dhabi’s non-oil economy growing by 6.2% in 2024. This growth demonstrates the emirate’s resilience amid global challenges and solidifies its position as a dynamic economic centre.

The emirate's proactive policies have been instrumental in reducing costs, time, and requirements for businesses. By simplifying procedures and enabling seamless integration of government services, these initiatives have facilitated significant growth in non-oil foreign trade.

With inputs from WAM