Dubai: The United Arab Emirates’ non-oil foreign trade has crossed the $1 trillion mark for the first time, a major milestone in the country’s efforts to diversify its economy away from hydrocarbons, Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum said on Friday.
Posting on social media platform X, Sheikh Mohammed — who also serves as the UAE’s vice president and prime minister — said non-oil trade reached 3.8 trillion dirhams, reflecting a 26% increase from the previous year.
He said non-oil exports rose sharply to 813 billion dirhams, marking a 45% year-on-year growth.
According to Sheikh Mohammed, the country has already achieved 95% of its non-oil trade targets set for 2031 — five years ahead of schedule — highlighting what he described as a strengthening investment climate and expanding global partnerships.
“The investment ecosystem is now complete, international partnerships have doubled, and cooperation with the private sector has deepened,” he said, adding that the UAE economy is poised for further progress.
He also called on national institutions to speed up economic initiatives and enhance collaboration with the private sector to ensure sustained growth.