The United Arab Emirates (UAE) scripted financial history as non-oil foreign trade crossed $1 trillion for the first time ever. The UAE had kept this target three years ago to be achieved by 2031. However, the desert country achieved the financial target five years early and ahead of schedule.

The UAE’s non-oil foreign trade crossing the $1 trillion figure displays the country’s commitment towards achieving its economic goals. The country has been accelerating ambitious economic plans and achieving it through sheer dedication and competence. This makes it the most successful nation in the Middle East with a robust growth engine.

Reviewing the latest foreign trade figures, Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, said the $1 trillion non-oil foreign trade achievement reflects a fully developed investment ecosystem, stronger cooperation with the private sector, and growing global confidence in the UAE’s economy.

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UAE Achieves $1 Trillion Non-Oil Trade 5 Years in Advance

The UAE’s non-oil trade exceeded AED3.8 trillion, equivalent to $1.03 trillion. This represented growth of about 27% compared to 2024 and 44.3% compared to 2023. Going much further, trade expanded by 65% compared to 2022 and by 97.4% compared to 2021. It nearly doubled in value in just four years and exceeded twice the level recorded in 2019.

Sheikh Mohammed revealed that the targets were set for 2031 and the UAE achieved 95% of it five years earlier. The development highlights how oil-rich nations are becoming increasingly focused on diversifying their economies. They no longer are dependent on a single source of income revenue to keep their economies afloat.

Not just the UAE, even Saudi Arabia is aiming at non-oil foreign trade. The Kingdom is relaxing it’s conservative policies to become a tourist friendly destination. The Vision 2030 will change the course of the Kingdom’s economy and diversify its income stream.