UAE's foreign trade surpasses AED 3 trillion, outpacing global growth

The UAE’s foreign trade hit AED3 trillion for the first time 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 on Wednesday.

Sharing the milestone on social media platform X, Sheikh Mohammed called it a “historic achievement” and credited UAE President His Highness Sheikh Mohammed bin Zayed for strengthening economic ties worldwide.

"While global trade grew by just 2% in 2024, the UAE’s foreign trade expanded at seven times that rate, reaching 14.6% growth," he noted.

Sheikh Mohammed also highlighted the impact of Comprehensive Economic Partnership Agreements (CEPAs), led by Sheikh Mohammed bin Zayed, which contributed AED135 billion to the UAE’s non-oil trade, a 42% increase compared to the previous year.

Looking ahead, he emphasized the UAE's ambitious economic vision, "In 2024, we set a goal of reaching AED 4 trillion in annual foreign trade by 2031. By the end of 2024, we have already achieved 75% of that target. At this pace, we will reach it years ahead of schedule."

Sheikh Mohammed reiterated the UAE’s unique economic approach, saying: “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."