UAE on track to hit $1.1tn trade target 4 years early as non-oil sector booms: Sheikh Mohammed

UAE trade is booming and the country is on track to smash economic targets and deliver trade boost four years ahead of schedule.
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, affirmed that the UAE, under the leadership of President Sheikh Mohamed bin Zayed Al Nahyan, continues its remarkable progress across all sectors, with the nation's booming non-oil foreign trade at the heart of this growth, achieving consistent record-breaking growth for several years.
Sheikh Mohammed bin Rashi Al Maktoum said: 'The UAE's non-oil foreign trade saw growth of 18.6 per cent year-on-year in the first quarter of this year, reaching AED835bn ($227.5bn/global average is 2-3 per cent). The nation's non-oil exports experienced exceptional growth, surging by 41 per cent annually.
UAE trade targets
'Our goal to grow non-oil foreign trade to AED4tn ($1.1tn) by 2031 will be achieved within the next two years; four years ahead of schedule. In 2024, GDP grew by 4 per cent, reaching AED 1.77tn ($482bn), with the non-oil sector contributing 75.5 per cent to the national economy.'
Sheikh Mohammed added: 'Under the leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, the UAE's economic growth is achieving unprecedented success. Indicators of social, economic, and strategic stability and prosperity are at their highest historical levels.
'We are confident in an even brighter future, driven by the focused efforts of thousands of dedicated teams working to realize the UAE's global ambitions.'
The UAE's non-oil foreign trade continued an upward trajectory in Q1 2025 (January 1 to March 31 2025), reaching AED835bn ($227.5bn), an 18.6 per cent increase compared to Q1 2024.
UAE non-oil exports continued to achieve historical growth rates, recording AED177.3bn ($48.3bn) in Q1 2025, a 40.7 per cent year-on-year increase (compared to Q1 2024) and a 15.7 per cent quarter-on-quarter increase (compared to Q4 2024).
This robust growth propelled non-oil exports to over 21 per cent of the UAE's total non-oil foreign trade for the first time in the nation's history, outpacing the growth of both imports and re-exports.
Re-exports saw a 6 per cent annual increase, reaching AED189.1bn ($51.5bn). Imports grew by 17.2 per cent year-on-year, reaching AED468.6bn ($127.6bn), but experienced a slight 1.7 per cent decline compared to the previous quarter (Q4 of 2024).
Trade with the UAE's top 10 trading partners continued to expand, growing by 20.2 per cent in Q1 2025, compared to 16.9 per cent growth with other countries.
Trade grew with India by 31 per cent, with Saudi Arabia by more than double at 127 per cent, with Turkiye by 8.3 per cent – surpassing previous records – and with China by 9.6 per cent.

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