UAE’s foreign trade reached AED3 trillion ($816.8 billion) 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. Sheikh Mohammed confirmed the achievement on the social media platform X, praising the historic milestone by stating: “The UAE’s foreign trade has reached a historic milestone, touching AED3 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 global trade grew by just 2 percent in 2024, the UAE’s foreign trade expanded at seven times that rate, achieving a 14.6 percent growth. The Comprehensive Economic Partnership Agreements, led by Sheikh Mohammed bin Zayed, added AED135 billion to the country’s non-oil trade with partner nations — a 42 percent increase compared to the previous year.
Read more: UAE leads Egypt’s foreign trade with $9.3 billion in 2023/2024
Ambitious targets
Moreover, in 2021, we set a goal of reaching AED4 trillion in annual foreign trade by 2031. By the end of 2024, we have already achieved 75 percent of that target. At this pace, we will reach it years ahead of schedule.
Furthermore, the UAE is shaping its own economic future, focusing on progress over politics. Our priority is to strengthen economic partnerships with nations around the world—because prosperity is built on stability. Additionally, the UAE has a clear vision and bold ambitions. In this world, success belongs to those who know exactly where they are headed.
