UAE VP.: Trade Hit Record Of USD 820 Bln In 2024

2025-02-05 07:15:11

(MENAFN- Kuwait News Agency (KUNA)) ABU DHABI, Feb 5 (KUNA) -- UAE Vice President, Prime Minister and ruler of Dubai sheikh Mohammad bin Rashid Al-Maktoum said on Wednesday that the UAE's foreign trade has reached a historic milestone, touching about USD 820 billion (AED 3 trillion) for the first time by the end of 2024.
According to the Emirati News Agency (WAM), Sheikh Mohammed bin Rashid said that while global trade grew by just 2 percent in 2024, the UAE's foreign trade expanded at seven times that rate, achieving an impressive 14.6 percent growth.
Sheikh Mohammed stated, "In 2021, we set a goal of reaching about USD 1.1 billion (AED 4 trillion) in annual foreign trade by 2031. By the end of 2024, we have already achieved 75 percent of that target. At this pace, we will reach it years ahead of schedule," he said.
"The Comprehensive Economic Partnership Agreements (CEPAs), led by Sheikh Mohamed bin Zayed, added USD 37 billion (AED135 billion) to our non-oil trade with partner nations-an exceptional 42 percent increase compared to the previous year," he noted.
Throughout 2024, the UAE increased imports from major markets, with key imported goods including gold, mobile phones, petroleum oils, automobiles, jewellery, diamonds, and computers. (end)
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