Abu Dhabi, UAE — The United Arab Emirates (UAE) is set to reach a landmark Dh3 trillion in non-oil foreign trade by the end of this year, according to recent government data. This milestone underscores the nation’s robust economic diversification efforts and its strategic push to expand trade in various sectors.
The UAE’s non-oil trade has seen significant growth across several key areas. The industrial sector has been a major driver, experiencing a 25% increase in exports, thanks to rising global demand for Emirati-manufactured goods such as aluminum, steel, and machinery. The technology and electronics sector also saw a substantial boost, with a 20% rise in trade, fueled by the UAE’s strategic investments in innovation and digital transformation.
Agriculture and food products have contributed significantly to the growth as well, with a 15% increase in exports. This surge is attributed to the UAE’s efforts to enhance food security and leverage advanced agricultural technologies to increase production. Additionally, the pharmaceutical and healthcare sectors have grown by 18%, reflecting the global demand for medical supplies and the UAE’s commitment to becoming a regional hub for healthcare excellence.
The logistics and transportation sectors have also played a crucial role in this trade expansion. The UAE’s world-class infrastructure and strategic positioning as a global logistics hub have led to a 22% rise in trade activities related to shipping, air freight, and port services. The country’s free zones and strategic trade agreements with key international partners have further bolstered these gains.
Minister of Economy, Abdulla bin Touq Al Marri, commented on the impressive figures, stating, “The UAE’s non-oil trade growth is a testament to the effectiveness of our economic diversification strategy. By focusing on key sectors and leveraging our strategic location, we are not only boosting our economy but also enhancing our position as a global trade hub.”
As the UAE continues its drive towards economic diversification, the government remains committed to fostering an environment conducive to trade and investment. Initiatives such as the “Projects of the 50” and various economic reforms are expected to further accelerate growth and attract foreign direct investment in the coming years.
With the UAE on the cusp of reaching the Dh3 trillion mark in non-oil foreign trade, the nation demonstrates its resilience and forward-thinking approach in building a sustainable and diversified economy for the future.