UAE's non-oil foreign trade to hit $1.1trln by 2027, says report
The UAE's non-oil foreign trade continued an upward trajectory in Q1 2025 (January 1 to March 31, 2025), reaching AED 835 billion, up 18.6% increase compared to Q1 2024.
UAE non-oil exports continued to achieve historical growth rates, recording AED 177.3 billion in Q1 2025, a 40.7% year-on-year increase (compared to Q1 2024) and a 15.7% quarter-on-quarter increase (compared to Q4 2024).
This robust growth propelled non-oil exports to over 21% of the UAE's total non-oil foreign trade for the first time in the nation's history, outpacing the growth of both imports and re-exports.
Sheikh Mohammed said: "The UAE's non-oil foreign trade saw growth of 18.6% year-on-year in the first quarter of this year, reaching AED 835 billion (global average is 2-3%). The nation's non-oil exports experienced exceptional growth, surging by 41% annually," he stated.
"Our goal to grow non-oil foreign trade to AED 4 trillion by 2031 will be achieved within the next two years; four years ahead of schedule. In 2024, GDP grew by 4%, reaching AED 1.77 trillion, with the non-oil sector contributing 75.5% to the national economy," he added.
UAE's re-exports saw a 6% annual increase, reaching AED 189.1 billion. Imports grew by 17.2% year-on-year, reaching AED 468.6 billion, but experienced a slight 1.7% decline compared to the previous quarter (Q4 of 2024), said the Wam report.
Trade with the UAE's top 10 trading partners continued to expand, growing by 20.2% in Q1 2025, compared to 16.9% growth with other countries.
Trade grew with India by 31%, with Saudi Arabia by more than double at 127%, with Turkiye by 8.3% - surpassing previous records - and with China by 9.6%, it stated.
"Under the leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, the UAE's economic growth is achieving unprecedented success. Indicators of social, economic, and strategic stability and prosperity are at their highest historical levels," said Sheikh Mohammed.
"We are confident in an even brighter future, driven by the focused efforts of thousands of dedicated teams working to realize the UAE's global ambitions," he added.
Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
25 minutes ago
- Khaleej Times
Dubai Duty Free posts record half-year sales with revenue of Dh4.118 billion
Dubai Duty Free on Wednesday announced that half-year sales posted a 5.34 per cent year-on-year increase, with turnover reaching Dh4.118 billion ($1.128 billion) for the first six months of 2025. This exceeded last year's previous record turnover for the first half of the year by Dh208.95 million. The airport retailer recorded robust growth in April, May and the first half of June, with sales buoyed by a surge in travel over the Eid holiday and the early summer travel season. Dubai Duty Free managing director Ramesh Cidambi said: 'We are very pleased with our record performance for the first half of 2025. Whilst we await the final passenger numbers for June 2025, the spend per passenger is likely to be better than last year June. This performance is a testament to our team's hard work and the strength of Dubai as a global travel hub.' Perfumes, beverages, cigarettes & tobacco, gold and confectionery retained the top five category positions. Perfume sales reached Dh744.24 million, contributing 18 per cent of total revenue and showing an increase of five per cent over the same period last year. Beverages followed with sales of Dh513.37 million, while cigarettes & tobacco sales rose 12.24 per cent year-on-year with sales of Dh439.91 million. Gold sales amounted to Dh416.90 million, contributing 10.12 per cent of total revenue and an increase of 6.14 per cent. Confectionery in particular continued to demonstrate strong growth, achieving Dh412.52 million, marking an 62.70 per cent increase over the same period last year and accounting for 10 per cent of total revenue. Another notable increase was seen in cosmetics, which rose by 3.36 per cent to Dh201.51 million contributing 4.89 per cent of total revenue. Spending trends across terminals continued to increase with duty free sales in Terminal 3 increasing by 6.37 per cent for the first half of the year, while Terminal 1 rose by 5.25 per cent. All key passenger regions showed positive sales during the first half of the year, with Europe up 16.89 per cent, the Russian region up 4.41 per cent, the Indian-sub continent up 1.02 per cent and the Middle East up 8.15 per cent. Looking ahead, Dubai Duty Free will continue to enhance its retail operation following the successful renovations of its three Arrivals Shops in the first half of the year. The company remains optimistic for the second half of the year, with preparations underway a busy summer and traditional busy last quarter. 'We are looking forward to an equally busy second half of the year. Plans are very much in place for the opening of three luxury boutiques in Terminal 3 Concourse A including Louis Vuitton, Chanel and Cartier,' added Cidambi.
Gulf Business
32 minutes ago
- Gulf Business
Off-plan sales surge in Dubai's Business Bay: What's driving the boom?
Image credit: Supplied Business Bay recorded over Dhs4.5bn in off-plan real estate sales in Q2 2025, across more than 1,900 transactions—solidifying its position as one of Dubai's most dynamic residential and investment hubs. The figures underscore rising investor confidence in the district's central location, upscale living, and consistent returns. Read- This surge in off-plan activity comes amid broader momentum in Dubai's property market, which logged a record Dhs66.8bn in total sales in May 2025. That figure spans 18,700 transactions, reflecting a 44 per cent increase in value and a 6 per cent rise in volume compared to May 2024. Business Bay played a key role in this growth, contributing 5 per cent of the city's total sales value while accounting for just 3 per cent of transactions—highlighting the area's premium pricing and strong appeal. Strategic positioning and developer response Located between Downtown Dubai and the Dubai Canal, Business Bay remains a magnet for both local and international buyers. Its mix of world-class infrastructure, five-star hotels, and easy access to Sheikh Zayed Road, Dubai Metro, DIFC, and key leisure hubs positions it as a high-performance district in the city's real estate landscape. In response to continued demand, developers are accelerating delivery of design-led, lifestyle-focused projects, many of which include branded residences and luxury features aimed at the next generation of Dubai residents and global investors. The neighbourhood's consistent yields and reputation for capital appreciation continue to make it a top choice for those seeking long-term growth in the heart of the city. RTA Completes traffic improvements in Business Bay In another development, Dubai's Roads and Transport Authority (RTA) has completed three key traffic enhancements in the Business Bay area. The upgrades targeted several key locations along the corridor, which links directly to Sheikh Zayed Road and Al Khail Road, aiming to improve traffic flow and road safety. The improvements are designed to meet the needs of residents, visitors, and businesses in a district known for its mix of residential, commercial, and service facilities, The works are part of a broader initiative to modernize infrastructure and enhance the efficiency of Dubai's road network, in line with ongoing population growth and urban development. The completed upgrades are expected to ease congestion, raise safety standards, and reduce travel times in high-density areas. As part of the project, the street running parallel to Sheikh Zayed Road was converted from a two-lane, two-way configuration into a one-way dual carriageway, with new signage and road markings. This modification doubled the street's capacity and significantly improved traffic flow by reducing conflict points. In addition, a 100-metre-long storage lane was constructed at the intersection of Al Mustaqbal Street and Al Khaleej Al Tejari 1 Street. The added lane has increased right-turn capacity toward First Al Khail Street by 50 per cent, cutting down congestion and wait times while enhancing the intersection's efficiency.
Al Etihad
33 minutes ago
- Al Etihad
Higher Colleges of Technology, Saal.ai partner to build UAE's next generation of AI talent
2 July 2025 18:49 ABU DHABI (WAM) The Higher Colleges of Technology (HCT), the largest higher education institution in the UAE, has signed a strategic partnership with a cognitive technology company under the Abu Dhabi Capital Group (ADCG).The collaboration aims to equip Emirati students with future-ready skills in artificial intelligence (AI) and big data agreement was formalised during a signing ceremony held at the HCT campus, reinforcing both institutions' commitment to nurturing local talent and supporting the UAE's transformation into a knowledge-based initiative aligns with the UAE Year of Community and the nation's broader goals to accelerate innovation, empower youth, and foster impactful partnerships between academia and technology the heart of this collaboration is the integration of DigiXT, UAE-developed enterprise-grade AI and big data platform, into HCT's academic programmes. This will offer students hands-on learning experiences with real-world applications of AI and data this platform, students will develop practical expertise that enhances their employability, while industry partners benefit from a skilled pipeline of graduates proficient in cutting-edge and CEO of HCT, Dr. Faisal Alayyan, said, 'This initiative marks a transformative milestone in our educational journey. By embedding AI into our curricula, we are equipping Emirati youth with the future-focused skills needed to lead in a digital economy. Our partnership with ensures students gain both technical competencies and the innovative mindset to become agile problem-solvers and drivers of national progress.'CEO of Vikraman Poduval, added, 'At we believe in the transformative power of technology to drive societal progress. By equipping Emirati students with practical AI skills and collaborating with public sector entities, we are fostering innovation as well as contributing to the UAE's vision of a sustainable and knowledge-based economy.'This partnership is aligned with HCT's 2023–2028 strategic vision, which prioritises applied learning, industry engagement, and the development of future-ready also reinforces HCT's role in delivering high-impact academic experiences that prepare Emirati students for the demands of an evolving global collaboration supports the UAE's national educational agenda and the UAE National Strategy for Artificial Intelligence 2031, which aims to position the country as a global AI strategy envisions integrating AI across sectors such as education, space, technology, energy, and UAE will introduce AI across government school curricula, from kindergarten through Grade 12, beginning next academic year. This nationwide initiative is part of a long-term strategy to prepare future generations for the digital era. Year of Community Continue full coverage
