Sheikh Mohammed bin Rashid: UAE Foreign Trade Reaches Historic AED 3 Trillion Milestone
HH Sheikh Mohammed bin Rashid Al Maktoum, UAE’s Vice President, Prime Minister and Ruler of Dubai, stated that the UAE is outperforming the global economy, as its foreign trade reached AED 3 trillion for the first time by the end of 2024—a historic milestone for the national economy.
This achievement is attributed to the vision of HH Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE.
Who has focused in recent years on building unprecedented economic bridges with countries worldwide.
Posting on his official X (formerly Twitter) account, Sheikh Mohammed bin Rashid wrote:
“In a historic achievement for our national economy…
Our foreign trade has reached AED 3 trillion for the first time by the end of 2024.
My brother Mohammed bin Zayed, may God protect him, has dedicated the past years to build unprecedented economic bridges with countries around the world. And today, we are reaping the rewards.”
Unparalleled Trade Growth
Sheikh Mohammed bin Rashid highlighted that while global trade in goods grew by just 2% annually in 2024.
The UAE’s non-oil foreign trade surged at an astonishing rate of 14.6%—seven times faster than the global average.
He further noted:
“The Comprehensive Economic Partnership Agreements (CEPAs), spearheaded by my brother Mohammed bin Zayed, contributed AED 135 billion in non-oil trade with partner countries—a remarkable 42% increase in 2024 compared to the previous year.”
UAE’s Ambitious Trade Goals
Sheikh Mohammed bin Rashid reiterated that in 2021, the UAE set an ambitious target of AED 4 trillion in annual foreign trade by 2031.
By the end of 2024, the country had already achieved 75% of this goal.
And at the current growth rate, the UAE is on track to reach its target years ahead of schedule.
Mohammed bin Ahmed Al Yamahi, Speaker of the Arab Parliament, praised the exceptional efforts made by the UAE, under the leadership of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, “may God protect him,” in support of and promotion of the values of… pic.twitter.com/whSG4lw2WM
— UAE Voice (@uae_voiceeng) February 4, 2025
He emphasized:
“The UAE is leading the global economic race—outpacing traditional trade growth worldwide.
This is because our economy takes precedence over politics.
Building bridges is a priority with all nations, and our pursuit of stability is the key to prosperity.”
Sheikh Mohammed bin Rashid concluded:
“The UAE has clear economic ambitions, a defined vision, and the world makes way for those who know what they want.”
