UAE's Non-Oil Trade Soars to New Heights

The United Arab Emirates' non-oil trade reached a record 3 trillion dirhams by the end of 2024. The nation's foreign trade grew by 14.6% last year, asserting its status as a prominent tourism and business hub. The UAE has signed various Comprehensive Economic Partnership Agreements to enhance growth.

The United Arab Emirates has set a new benchmark for its non-oil trade, amassing a record 3 trillion dirhams, equivalent to $816.86 billion, by the close of 2024, according to an announcement by Prime Minister Sheikh Mohammed bin Rashid Al Maktoum on X.

This remarkable 14.6% increase from the previous year underscores the Gulf state's status as a pivotal tourism and business center. The UAE has strategically invested in trade and logistics, alongside implementing policies that aim to fuel sustainable economic growth.

Since 2021, the country has embarked on multiple bilateral trade and cooperation agreements known as Comprehensive Economic Partnership Agreements. Deals have been successfully negotiated with countries ranging from India to Israel, emphasizing the UAE's prioritization of economic interests over political considerations.