The United Arab Emirates has reached a significant economic milestone, with its foreign trade surpassing AED 3 trillion for the first time by the end of 2024. This achievement highlights the country’s growing role as a global trade hub and reflects the success of its long-term economic strategies.
One of the key drivers behind this growth has been the UAE’s strategic trade agreements and diplomatic efforts to strengthen economic ties worldwide. In recent years, the country has expanded its global trade partnerships, leading to substantial economic gains.
According to official data, global foreign trade in goods grew by just 2% annually in 2024, while the UAE’s non-oil foreign trade expanded at a much higher rate of 14.6%, marking a sevenfold increase compared to global averages.
A major contributor to this growth has been the Comprehensive Economic Partnership Agreements (CEPAs), which the UAE has signed with several nations. These agreements added AED 135 billion in non-oil trade, representing a 42% increase compared to the previous year.
The UAE had set an ambitious goal in 2021 to achieve AED 4 trillion in annual foreign trade by 2031. By the end of 2024, the country had already reached 75% of this target, indicating that it could achieve its goal well ahead of schedule if the current growth trajectory continues.
Experts attribute the UAE’s exceptional trade performance to its open economic policies, investment-friendly environment, and commitment to fostering global partnerships. Unlike traditional economic models, the UAE has prioritized economic development over political considerations, focusing on stability and cooperation as key pillars of its success.
With a clear economic vision and strategic planning, the UAE continues to solidify its position as a leading global trade and investment destination.
Feel Free to Contact Us at Any Time, We Are Online 24/7