In 2024, the total export volume to the partner country of the UAE reached 135 billion dirhams, increasing by 42.3% and comprising 24% of the total export volume, excluding petrochemical products. The Minister of Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, stated that non-oil foreign trade of the UAE continues to grow, reaching 3 trillion dirhams in 2024, which represents a record growth of 14.6% compared to 2023.
In an interview with the Emirates News Agency (WAM), Dr. Al Zeyoudi noted: "With our strategic national vision, UAE's foreign trade continues to show remarkable growth. In 2024, our non-oil foreign trade reached a historic maximum of 2.997 trillion dirhams, increasing by 14.6% compared to 2023, which is against a global average trade growth of around 2.4%."
As for the Comprehensive Economic Partnership Agreement (CEPA), Al Zeyoudi emphasized: "The expansion of foreign trade is a cornerstone of our national economic strategy, and with the help of the CEPA program, we expand possibilities for our private sector, increasing access to growing markets worldwide. India and Turkey are two leading destinations for oil exports."
Highlighting the growth in oil exports to foreign trade, the minister noted: "The most impressive indicator among all positive metrics is the increase in oil exports' share in our foreign trade. In 2024, exports accounted for 18.7% of the total trade volume, which is 1.9% more than in 2023 and 4.6% higher than in 2019."
Record figures in trade in 2024 showcase the dynamism and flexibility of our economy, which remains open to global trade, talents, and investments. "These results also indicate that we are not only on the right track but also paving the way for others – and we expect to see an increase in the number of partners under the CEPA program in 2025 and beyond, to broaden this success."
