Dubai sets sight on Dh25.6 trillion trade target

Dubai’s non-oil trade reached Dh2 trillion in 2023, a year ahead of schedule. This achievement underscores Dubai’s unique business approach. Despite global challenges to supply chains, the emirate has shown resilience, enhancing competitiveness and positioning itself as a leader in global trade transformations.

Dubai aims to position itself among the top three urban economies worldwide, having achieved its trade goals ahead of its set timeline, and has set a new trade target of achieving Dh25.6 trillion over the next decade.

The non-oil trade boom recorded by Dubai is in line with the overall foreign trade surge of the UAE. In 2023, the UAE’s non-oil foreign trade value surpassed Dh3.5 trillion in 2023 for the first time in the country's economic history despite the global downturn in international trade movement, according to reports by the United Nations Conference on Trade and Development.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, in a statement reiterated Dubai’s commitment to bolstering its status as a premier global trade and logistics hub. Under the guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Economic Agenda D33 and trade competitiveness, and broadened its international trade horizons.

“The exceptional performance of the non-oil foreign trade sector and the continued momentum achieved by this vital sector in Dubai strengthens its position as a pivotal starting point for trade to various regional and global markets, and as a major centre of attraction for traders and businessmen,” Sheikh Hamdan said.

“For businesses and companies wishing to expand their activity in the region and beyond, Dubai provides unmatched advantages in terms of its strategic location at the crossroads of global trade, transparency in commercial processes, and world-class facilities that translate into immense ease of doing business,” he added.