HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said the country will reach its Dh4 trillion non-oil foreign trade target by 2027, four years ahead of schedule, as new figures show continued trade growth in the first quarter of 2025.
Speaking after the release of first-quarter data, HH Sheikh Mohammed said non-oil trade rose 18.6% year-on-year to Dh835 billion, with non-oil exports up 40.7% to Dh177.3 billion. For the first time, non-oil exports accounted for more than 21% of total non-oil trade.
“Our goal to grow non-oil trade to Dh4 trillion by 2031 will now be achieved within two years,” HH Sheikh Mohammed said in a statement. He added that the non-oil sectors contributed 75.5% of the GDP in 2024 when the UAE economy expanded by 4% to Dh1.77 trillion.
Imports in Q1 rose 17.2% to Dh468.6 billion, while re-exports climbed 6% to Dh189.1 billion. Compared to the previous quarter, imports decreased by 1.7%, while exports increased by 15.7%.
Trade with the UAE’s top 10 partners grew 20.2% in Q1. Bilateral trade with Saudi Arabia more than doubled, rising 127%. Trade with India rose 31%, China 9.6%, and Turkiye 8.3%.
The UAE has signed over 26 Comprehensive Economic Partnership Agreements (CEPAs) since 2022 to expand trade routes and reduce tariffs. The government aims to achieve $1 trillion in total trade under the CEPA framework over the coming years.
The UAE’s economic strategy, outlined in the “We the UAE 2031” agenda, aims to expand non-oil GDP and secure long-term growth through trade, industrial investment, and enhanced market access across Asia, Africa, and Latin America.
