UAE’s Non-Oil Trade Surges by 18.6% in Q1 of 2024

Abu Dhabi : The UAE’s non-oil foreign trade has recorded a significant 18.6% growth in the first quarter of 2024, reaching AED 835 billion, far surpassing the global average growth rate of just 2–3%.

Key highlights from the trade performance:

• Non-oil exports rose by 41%, reflecting strong international demand for UAE-made products.
• Re-exports saw a 6% increase, totaling AED 189.1 billion.
• Imports grew by 17.2%, amounting to AED 468.6 billion.
• Trade with India surged by 31%, strengthening bilateral economic ties.

Over the past two years, the UAE’s total foreign trade has climbed to AED 4 trillion. The country’s GDP is expected to grow by 4% in 2024, reaching AED 1.77 trillion.

Officials also stated that the UAE is on track to achieve its ambitious goal of AED 4 trillion in non-oil trade by 2031, possibly within the next two years, well ahead of schedule.