UAE non-oil trade hits record 9M near AED 3 tn as exports to top partners jump 31%

The UAE’s non-oil foreign trade grew 10% y-o-y to almost AED 3 tn in 9M 2026, a record for the period, but growth slowed noticeably in the third quarter. In 1H, trade grew 13.1%. By our math, that puts 3Q growth at c. 5% y-o-y, the slowest pace this year. Non-oil exports to the UAE’s 10 largest trading partners still rose 31%, Vice President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum said on X.

What’s driving the export jump isn’t clear yet: Exports to the top 10 partners grew three times faster than overall trade, but the announcement didn’t name the partners or break out imports and exports.

REMEMBER- Trade was already running hot: The UAE’s non-oil foreign trade reached AED 1.94 tn in 1H 2026, up 13.1% y-o-y, with non-oil exports climbing 23.9% to AED 452.8 bn. Trade with countries covered by implemented CEPAs reached AED 304.3 bn during the period, including AED 66.1 bn in non-oil exports.

The war is the likely drag: The UAE’s non-oil economy shrank 1.1% in 2Q as the war disrupted trade volumes, though trade remained the largest contributor to non-oil GDP in 1H at 16.2%. 3Q was the first full quarter after the airspace reopened in May, and growth still slowed.

The good news: The CEPA pipeline is still growing. The UAE has concluded CEPAs with 40 countries, with 20 already in force, as we reported last week. The country’s agreement with the Democratic Republic of Congo recently took effect, while a newly signed CEPA with Benin is expected to boost exports to the West African country by more than USD 1 bn by 2033.

What’s next: The UAE is targeting AED 4 tn in non-oil foreign trade by 2031. It reached c. AED 3 tn, or 75% of that target, in 2024, so a full-year 2026 figure in the mid-AED 3 tn range would keep it on track.