UAE's Non-Oil Foreign Trade Target Set At AED 4 Trillion By 2031, Achievable In Two Years

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, highlighted the UAE's impressive progress under President His Highness Sheikh Mohamed bin Zayed Al Nahyan. The nation's non-oil foreign trade has been a key driver, consistently achieving record growth over several years.

The UAE's non-oil foreign trade reached AED 835 billion in the first quarter of 2025, marking an 18.6% increase from Q1 2024. This growth rate significantly surpasses the global average of 2-3%. Non-oil exports also saw a remarkable rise, increasing by 40.7% year-on-year to AED 177.3 billion.

Sheikh Mohammed stated that the UAE aims to achieve AED 4 trillion in non-oil foreign trade by 2031, but expects to reach this target within two years, four years ahead of schedule. In 2024, the GDP grew by 4%, reaching AED 1.77 trillion, with the non-oil sector contributing significantly at 75.5%.

Trade with the UAE's top ten partners expanded by 20.2% in Q1 2025 compared to a growth rate of 16.9% with other countries. Notably, trade with India increased by 31%, Saudi Arabia saw a dramatic rise of 127%, Turkiye experienced an 8.3% increase, and China recorded a growth of 9.6%.

The robust performance in non-oil exports propelled them to account for over 21% of total non-oil foreign trade for the first time in UAE history. This outpaced both imports and re-exports in terms of growth rates during this period.

Re-exports grew by 6%, reaching AED 189.1 billion annually, while imports rose by 17.2% year-on-year to AED 468.6 billion despite a slight quarterly decline of 1.7%. These figures reflect the dynamic nature of the UAE's trade landscape.

Sheikh Mohammed emphasized that under Sheikh Mohamed bin Zayed Al Nahyan's leadership, economic growth is reaching unprecedented levels with indicators showing high stability and prosperity across social and strategic sectors.

"The UAE's economic growth is achieving unprecedented success," said Sheikh Mohammed. "Indicators of social, economic, and strategic stability and prosperity are at their highest historical levels."

The future looks promising as thousands work towards realizing the UAE's global ambitions, ensuring continued progress across all sectors.

With inputs from WAM