Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for International Commerce, acknowledged that the UAE’s non-oil international commerce has continued its upward trajectory, reaching AED3 trillion in 2024, with a document annual enhance of 14.6% in comparison with 2023.
In statements to the Emirates Information Company (WAM), Dr. Al Zeyoudi stated, ‘’Guided by the strategic imaginative and prescient of the nationwide management, the UAE’s international commerce continues its outstanding upward trajectory. In 2024, our non-oil international commerce reached an all-time excessive of AED2.997 trillion, rising by 14.6% on 2023 towards a world commerce progress common of round 2.4%. The milestone additionally means we now have achieved 75% of the AED4 trillion goal set within the ‘We the UAE 2031’ nationwide imaginative and prescient with seven full years remaining.”
“Of all of the optimistic indicators, essentially the most encouraging is the rising contribution of non-oil exports to our international commerce. Final yr, they climbed 27.6% in to achieve a document AED561.2 billion – almost 70% of the AED800 billion goal. Exports now comprise 18.7% of whole commerce, up from 16.8% in 2023 and 14.1% in 2019. These numbers verify the tempo and scale of our financial diversification plans, through which we’re investing new financial sectors, creating new merchandise for export, and establishing new technique of long-term worth creation,” he added.
He additional acknowledged, “The enlargement of international commerce is the centrepiece of our nationwide financial technique and, by our Complete Financial Partnership Settlement (CEPA) programme, we’re increasing alternatives for our non-public sector by enhancing entry to high-growth markets around the globe. In 2024, we now have been in a position to see the optimistic affect of this program. Whole exports to CEPA associate international locations reached AED135 billion in 2024, a rise of 42.3% and contributing 24% of our whole non-oil exports. India and Türkiye are the 2 main locations for non-oil exports.”
Al Zeyoudi concluded, “Importantly, the document commerce figures posted in 2024 mirror the dynamism and agility of our economic system, one which has remained open to the world’s commerce, expertise and funding. Furthermore, they underline the truth that we aren’t solely on the best path however paving the best way for others to comply with – and we stay up for including extra CEPA companions in 2025 and past to share on this success.”
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