UAE Trade Surges to Record Dh3 Trillion in Nine Months Amidst Global Challenges

The United Arab Emirates' foreign trade has surged to nearly Dh3 trillion ($817 billion) in the first nine months of the year, marking a significant achievement despite economic headwinds and geopolitical complexities, announced Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. This represents a 10 percent annual increase for the Arab world's second-largest economy, driven by a substantial rise in exports as the UAE continues to strengthen its global trade relationships. Sheikh Mohammed highlighted on X that exports to the UAE's top 10 trading partners grew by 31 percent compared to the previous year. He reviewed the nine-month trade performance on Sunday, noting that this growth occurred even as the country navigated challenges including the ongoing US-Iran conflict. The UAE economy had previously experienced a slowdown following disruptions to energy infrastructure and the vital Strait of Hormuz waterway due to Iranian missile and drone strikes. However, the nation demonstrated resilience by rerouting oil and non-oil trade through alternative channels.

"In a year that has seen many economic and political challenges and shifts in global trade, the UAE remains a major hub for international trade," stated Sheikh Mohammed, who also serves as Prime Minister. "It continues to respond flexibly and efficiently to all the changes around it."

The strong nine-month performance follows a robust first half of the year, during which the UAE's non-oil foreign trade increased by 13.1 percent annually to Dh1.937 trillion by the end of June. Non-oil exports reached a record Dh452.8 billion in that six-month period, a nearly 24 percent year-on-year increase, as previously noted by Sheikh Mohammed. This sustained growth in UAE trade is largely attributed to the nation's strategic push to diversify its economy and expand trade partnerships through the Comprehensive Economic Partnership Agreement (Cepa) initiative, launched in 2021. The Cepa program aims to reduce tariffs and streamline customs procedures with selected countries. Benin became the latest signatory in October, bringing the total number of Cepas signed to 38, with 18 agreements already in effect. Notable Cepa partners include India, Turkey, Jordan, Serbia, Vietnam, and Ukraine.

"The UAE continues to strengthen its network of relationships, expand its export markets and chart its own distinctive, rapidly advancing path towards sustainable economic growth," Sheikh Mohammed remarked on Sunday. The UAE's economy has shown remarkable stability despite global geopolitical tensions. Gross domestic product grew by 0.4 percent annually to Dh961.9 billion in the first half of 2026, primarily fueled by non-oil business activities, according to the Federal Competitiveness and Statistics Centre. The non-oil sector's contribution to GDP rose by 1.8 percent to 79.2 percent during the first six months. Trade was the leading contributor to non-oil GDP at 16.2 percent, followed by financial and insurance services (15.2 percent), construction (13.1 percent), manufacturing (11.8 percent), and real estate (7.9 percent).