The UAE saw its non-oil foreign trade grow 13.8% y-o-y in 2024, surpassing AED 2.8 tn, according to the Central Bank of the UAE’s annual report (pdf). Non-oil exports grew 29.3% y-o-y, while re-exports grew by 3.8%, and imports climbed by 13.5%. The performance comes on the back of an expansion in the UAE’s trade and economic agreements with several countries last year.

China was the UAE’s largest trading partner, accounting for 11.5% of total trade, followed by India at 8.5%, and Saudi Arabia at 5.4%. Key traded commodities included gold, telecommunication equipment, and motor vehicles.

Meanwhile, Abu Dhabi’s non-oil foreign trade grew 9% y-o-y to AED 306 bn last year, according to an Abu Dhabi Customs press release. Non-oil exports increased by 16% y-o-y to AED 107.8 bn in 2024, while re-exports grew by 11% y-o-y to exceed AED 58 bn and imports rose 3% y-o-y to AED 140.2 bn.

REMEMBER- Prime Minister Sheikh Mohammed bin Rashid Al Maktoum previously said that the UAE’s non-oil foreign trade grew by 14.6% y-o-y to AED 3 tn in 2024. Non-oil goods exports were the key drivers of growth, increasing by 27.6% y-o-y to AED 561.2 bn, accounting for 18.8% of total foreign trade last year.

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