{"id":100428,"date":"2025-02-06T00:00:00","date_gmt":"2025-02-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/the-uaes-non-oil-foreign-trade-hit-aed-3-tn-in-2024\/"},"modified":"2025-02-06T00:00:00","modified_gmt":"2025-02-06T00:00:00","slug":"the-uaes-non-oil-foreign-trade-hit-aed-3-tn-in-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/02\/06\/the-uaes-non-oil-foreign-trade-hit-aed-3-tn-in-2024\/","title":{"rendered":"The UAE\u2019s non-oil foreign trade hit AED 3 tn in 2024"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The UAE\u2019s non-oil foreign trade grew 14.6% y-o-y to AED 3 tn in 2024<\/strong>, outpacing global trade growth of just 2%, Prime Minister Sheikh Mohammed bin Rashid Al Maktoum <a target=\"_blank\" href=\"https:\/\/x.com\/HHShkMohd\/status\/1887030895283929313\" style=\"\" rel=\"noopener\">said on X<\/a>. Economic partnership agreements contributed significantly, with non-oil exports under these partnerships rising by 42% y-o-y to AED 135 bn in 2024, Al Maktoum said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">This marks a major step toward the UAE\u2019s goal of reaching AED 4 tn in annual foreign trade<\/strong><span style=\"background-color: transparent;\"> by 2031, with 75% of that target already achieved in 2024.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Non-oil goods exports were the key drivers of growth<\/strong>, increasing by 27.6% y-o-y to AED 561.2 bn, accounting for 18.8% of total foreign trade last year, state news agency <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/bi1strc-uaes-foreign-trade-hit-all-time-high-aed3-trillion\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The UAE\u2019s exports to its top 10 trade partners climbed by 37.1% y-o-y, while exports to other countries rose by 13.4% y-o-y. Major export commodities included gold, jewelry, cigarettes, aluminum, copper wires, printed materials, perfumes, and iron-based products. The re-export sector grew by 7.3% y-o-y to AED 734.4 bn in 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Non-oil imports reached AED 1.7 tn in 2024, up 14.2% y-o-y from 2023<\/strong>. Imports from the country\u2019s top 10 trade partners grew by 6.7% y-o-y, while imports from other nations increased by 22.3% y-o-y. Key imports included gold, mobile phones, petroleum oils, automobiles, jewelry, diamonds, and computers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The trade figures align with the cabinet\u2019s 2024 projections<\/strong>, which saw foreign trade <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/84b15e3a-f51b-4677-b117-d42bd5357c14\/uae%25e2%2580%2599s-gdp-surpassed-aed-1.7-tn-in-2024\" style=\"\" rel=\"noopener\">exceeding AED 2.8 tn<\/a> in 2024, with non-oil exports set to top AED 540 bn, imports over AED 1.6 tn, and re-exports crossing AED 700 bn. Non-oil foreign trade amounted to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ba7a061f-b01f-46a6-8b9b-c1b1af38d4f1\/%253cmark%253enon-oil%253c%2Fmark%253e-foreign%253cmark%253e-trade%253c%2Fmark%253e-reaches-aed-3.5-tn-in-2023\" style=\"\" rel=\"noopener\">AED 3.5 tn<\/a> in 2023, while total foreign trade reached a record <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/1fa5bb85-821c-4a85-82af-dc898a68591a\/total%253cmark%253e-foreign-trade%253c%2Fmark%253e-reached-a-record-aed-4.45-tn-in-2023\" style=\"\" rel=\"noopener\">AED 4.5 tn<\/a> in the same year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Economic agreements surged in 2024:<\/strong> The UAE signed economic partnership agreements with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/da89dbd1-4afc-4d3c-b62c-c8a5447bc92c\/the-uae-seals-a-slew-of-key-partnerships\" style=\"\" rel=\"noopener\">New Zealand<\/a> and Kenya last month, as well as <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fc2cd70e-952c-4c00-a20c-7acf6405f888\/uae-inks%253cmark%253e-trade%253c%2Fmark%253e-agreements-with-serbia-and-jordan\" style=\"\" rel=\"noopener\">Jordan and Serbia<\/a> in October, and agreed with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ce81d8f0-1590-4fd5-ad8f-01b0541f4500\/uae-%2B-india-ink-pact-on-trans-continental-food%253cmark%253e-trade%253c%2Fmark%253e-route\" style=\"\" rel=\"noopener\">India<\/a> to set up a food corridor during the same month. Negotiations with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/141eb91a-5792-44eb-939f-75123f040b69\/uae-and-malaysia-finalize%253cmark%253e-trade%253c%2Fmark%253e-talks\" style=\"\" rel=\"noopener\">Malaysia<\/a> and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7a3d8c8a-0144-40cc-a850-bce48907ea67\/uae-finalizes-trade-talks-with-eurasian-economic-union\" style=\"\" rel=\"noopener\">Eurasian Economic Union<\/a> to set up an economic partnership were finalized and an agreement with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ef82bf99-c20c-4c5f-adaa-480f55c6c4c6\/uae,-australia-finalize%253cmark%253e-trade%253c%2Fmark%253e-agreement\" style=\"\" rel=\"noopener\">Australia<\/a> in September is set to remove tariffs and trade barriers. Earlier last year, the country inked agreements with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7fe33ad7-2474-409b-b42e-6f605d19bdfa\/uae-and-colombia-ink%253cmark%253e-trade%253c%2Fmark%253e-and-economic-agreement.-plus:-new-eu-gcc-climate-platform-and-bin-zayed-phones-iranian-fm\" style=\"\" rel=\"noopener\">Colombia<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9994b950-7b03-4bcc-8cd5-b20e99edab0f\/uae-pledges-usd-100-mn-to-support-sudan-%2B-inks-trade-agreement-with-costa-rica\" style=\"\" rel=\"noopener\">Costa Rica<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/eaa3e9f2-aad4-4ae6-b56e-09811f5516a1\/uae,-chile-formalize%253cmark%253e-trade%253c%2Fmark%253e-pact\" style=\"\" rel=\"noopener\">Chile<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b7c7d8ac-ba4a-4f80-a690-74d76359c3af\/uae-inks-economic,-trade-agreement-with-mauritius\" style=\"\" rel=\"noopener\">Mauritius<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/45d9fb76-5a76-42a9-9bbb-a4ddc51a592c\/vietnam,-uae-ink-comprehensive-economic-partnership-agreement\" style=\"\" rel=\"noopener\">Vietnam<\/a>, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/be1092a0-4949-4b50-868e-13adb738c990\/uae-inks-economic-and%253cmark%253e-trade%253c%2Fmark%253e-agreement-with-south-korea\" style=\"\" rel=\"noopener\">South Korea<\/a> and finalized others, including with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e07f0c62-e274-4b03-adf9-31e843da2c72\/uae,-ukraine-finalize%253cmark%253e-trade%253c%2Fmark%253e-talks\" style=\"\" rel=\"noopener\">Ukraine<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story got ink <\/strong>from <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/uae-leans-trade-deals-growth-non-oil-trade-jumps-15-2024-2025-02-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Non-oil exports were the main contributors, with a total of AED 561.2 bn<\/p>\n","protected":false},"author":1,"featured_media":100429,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1635],"tags":[949,7,1334],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-100428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trade","tag-comprehensive-economic-partnership-agreement","tag-enterpriseam-uae","tag-trade","wpautop","entry"],"acf":{"mongo_id":"aaed57d5-cf76-4caf-9444-127eb90df57c","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/2\/492.jpg","photo_position":"above","homepage_title":"","full_issue_title":"The UAE\u2019s non-oil foreign trade hit AED 3 tn in 2024","related_issue":[100421],"teaser":"Non-oil exports were the main contributors, with a total of AED 561.2 bn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.c67353ee-66e8-437e-b553-47e81cad3969.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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