Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, has emphasized the exceptional economic growth achievements under the leadership of Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE.

Recent developmental indicators reveal notable improvements in several economic sectors.

In the first quarter of this year, non-oil foreign trade increased by 18.6% year-on-year, significantly outpacing the global average growth rate of 2-3%.

The total value of this trade reached 835 billion dirhams (approximately $227 billion).

Furthermore, non-oil exports exhibited remarkable growth, soaring by 41% compared to the previous year.

In terms of strategic targets, the UAE aims to achieve a non-oil foreign trade volume of 4 trillion dirhams (around $1.09 trillion) by 2031. Sheikh Mohammed bin Rashid indicated that this target is expected to be reached two years ahead of schedule.

The UAE’s Gross Domestic Product (GDP) is predicted to grow by 4% in 2024, amounting to 1.77 trillion dirhams (approximately $481 billion).

The non-oil sector is projected to contribute 75.5% to the national economy, reflecting the country’s efforts to diversify its revenue sources beyond oil.

These indicators underline the UAE’s commitment to achieving sustainable economic prosperity and social welfare.

Sheikh Mohammed bin Rashid remarked on the state of stability and strategic development in the UAE, indicating that the nation is currently experiencing one of its highest points historically.

In his official communication, Sheikh Mohammed bin Rashid expressed confidence in a brighter future for the UAE, supported by the focused efforts of numerous teams dedicated to reaching the country’s global ambitions.