Abu Dhabi Customs has announced a 9 percent increase in the Emirate’s non-oil foreign trade for 2024, reaching AED 306 billion, up from AED 281.9 billion in 2023. Non-oil exports saw an impressive 16 percent increase in 2024, rising to AED 107.8 billion compared to AED 93 billion in 2023. Re-exports also grew by 11 percent, surpassing AED 58 billion, up from AED 52.4 billion the previous year. Imports experienced a smaller increase of 3 percent, reaching AED 140.2 billion, up from AED 136.4 billion in 2023.
Factors Driving Growth
The growth in non-oil foreign trade can be attributed to Abu Dhabi’s business-friendly policies, proactive strategies, and streamlined trade facilitation measures that reduce costs, time, and requirements. These initiatives have simplified procedures and enabled seamless integration of government services, making it easier for businesses to engage in international trade.
Digital and Automated Transactions on the Rise
The customs declarations for 2024 showed a 3 percent increase from the previous year, with digital transactions rising by 17 percent. Furthermore, automated transactions grew by 31 percent, accounting for a significant portion of total customs transactions, demonstrating the shift towards more efficient and technology-driven operations.
Abu Dhabi’s Economic Powerhouse Status Reinforced
Rashed Lahej Al Mansoori, Director-General of Abu Dhabi Customs, highlighted that the emirate’s non-oil foreign trade growth underscores its status as a thriving economic powerhouse and a global hub for business, trade, and investment, reports WAM. Al Mansoori emphasized Abu Dhabi Customs’ ongoing commitment to working with strategic partners to enhance the customs system’s efficiency, further reducing costs, and accelerating operations to support both businesses and investors.
Abdulla Gharib Al Qemzi, Director-General of the Statistics Centre – Abu Dhabi, stated, “Abu Dhabi Customs, in collaboration with the Statistics Centre – Abu Dhabi, plays a crucial role in analysing foreign trade trends and assessing the impact of economic policies. By leveraging accurate and reliable trade data, we enable decision-makers to develop policies that support sustainable economic growth and align with the emirate’s long-term vision.”
Strong Non-Oil Economy Performance
The latest foreign trade statistics reflect the effectiveness of these policies, with Abu Dhabi’s non-oil economy experiencing a 6.2 percent growth in 2024. This growth demonstrates the emirate’s resilience in adapting to global challenges and reinforces its position as a dynamic economic hub in the region.
