UAE foreign trade reaches record AED3 tn in 2024

UAE's foreign trade reached AED3 trillion for the first time at the end of 2024, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and the Ruler of Dubai announced on Wednesday.

He confirmed the record achievement on social media platform X, saying, "The UAE’s foreign trade has reached a historic milestone."

He continued by praising UAE President His Highness Sheikh Mohammed bin Zayed, who "has been keen in recent years to build unprecedented economic bridges with various countries of the world...and today we are reaping the fruits."

While global trade grew by two per cent in 2024, the UAE’s foreign trade expanded at seven times that rate, achieving an impressive 14.6 per cent growth. 

The UAE’s foreign trade has reached a historic milestone, touching AED 3 trillion for the first time by the end of 2024.

My brother, His Highness Sheikh Mohammed bin Zayed, has spent years strengthening economic ties with nations worldwide… Today, we see the results.

While…

— HH Sheikh Mohammed (@HHShkMohd) February 5, 2025

Sheikh Mohammed highlighted Comprehensive Economic Partnership Agreements, led by Sheikh Mohammed bin Zayed, have added AED135 billion to UAE non-oil trade with partner nations, "an astonishing growth of 42 per cent," His Highness wrote.

He added, "The target we set for the UAE’s foreign trade in 2021 was AED4 trillion annually, by 2031…and by the end of 2024, 75 per cent of the target was achieved.

"Continuing the growth rate at this rate will achieve our goal years ahead of schedule. The UAE is different from the global economic flock...and different from the traditional global trade growth flock...because the economy comes before politics...and building bridges is a priority for it with all peoples...and its pursuit of stability is the key to prosperity.

"The UAE has specific, high economic goals...and a clear vision...and the world makes way for those who know what they want."