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Sheikh Mohammed bin Rashid Al Maktoum highlighted the strong performance of the UAE economy in a statement carried by the Emirates News Agency. The Vice President and Prime Minister of the UAE and Ruler of Dubai pointed to non-oil foreign trade nearing AED 3 trillion between January and September as evidence of successful diversification. According to the announcement, non-oil exports attained record levels during this period while overall trade volumes rose steadily across multiple categories and partner countries. The statement titled Mohammed bin Rashid: UAE non-oil foreign trade nears AED 3 trillion in nine months as exports reach historic highs outlined gains in both exports and re-exports.
The Emirates News Agency reported a 12.4 percent year-on-year increase in the nine-month non-oil trade total compared with the prior year. Non-oil exports grew by 19.3 percent to AED 1.07 trillion in that timeframe while re-exports advanced 11.3 percent to AED 812 billion. Imports stood at AED 1.02 trillion, completing the components that together approach the AED 3 trillion threshold.
A Ministry of Foreign Trade review placed trade with the top 10 partner countries above AED 1.5 trillion for the nine-month period. This concentration of activity with key markets contributed to the overall expansion and reflected the impact of economic partnership agreements. The ministry data also showed that such agreements helped lift related non-oil exports by more than 40 percent in subsequent full-year results.
Dr. Thani bin Ahmed Al Zeyoudi told the Emirates News Agency that full-year 2024 non-oil foreign trade reached AED 2.997 trillion, representing 14.6 percent growth against a global average of around 2.4 percent. The Minister of State for Foreign Trade noted that non-oil exports for the complete year climbed 27.6 percent to AED 561.2 billion. These outcomes positioned the UAE at 75 percent of its AED 4 trillion annual trade target under the We the UAE 2031 vision with years to spare.
The Federal Competitiveness and Statistics Center figures show non-oil sectors accounted for 74.6 percent of real GDP growth in the first nine months of 2024. Trade activities contributed 16.5 percent to that non-oil GDP share, underscoring their central role in economic expansion. Such statistics align with the trade momentum described in the announcement by Sheikh Mohammed bin Rashid Al Maktoum.
Major export items during the period included gold, jewelry, aluminum products and perfumes while imports featured mobile phones, automobiles and computers, according to ministry breakdowns. The UAE maintained active trade relations through its dashboard platform that tracks flows with countries and regions worldwide. This infrastructure has supported consistent gains that extend beyond the initial nine-month results into subsequent years.
