Abu Dhabi [UAE], April 7 (ANI/WAM): Abu Dhabi Customs reported a 9 per cent increase in the emirate's non-oil foreign trade in 2024, reaching AED306 billion, compared to AED281.9 billion in 2023, reflecting the vitality of the emirate's economy and its growing relations with trading partners around the globe.
Non-oil exports soared 16 per cent in 2024, reaching AED107.8 billion compared to AED93 billion in 2023. Re-exports grew by 11 per cent to exceed AED58 billion, compared to AED52.4 billion in 2023, while imports grew by 3 per cent to AED140.2 billion, up from AED136.4 billion in 2023.
This growth is attributed to Abu Dhabi's business-friendly ecosystems, proactive policies, and trade facilitation solutions and initiatives to reduce cost, time, and requirements, simplifying procedures and enabling seamless integration of government services.
Customs declarations for 2024 showed a 3 per cent increase compared to the previous year, with digital platform transactions growing by 17 per cent. Furthermore, proactive and automated transactions grew by 31 per cent, accounting for a significant portion of total customs transactions.
Rashed Lahej Al Mansoori, Director-General of Abu Dhabi Customs, emphasised that Abu Dhabi continues to achieve significant growth in non-oil foreign trade, reinforcing the emirate's status as a rising economic powerhouse and a global hub for business, trade, and investment.
Al Mansoori affirmed Abu Dhabi Customs' commitment to working closely with strategic partners to support the emirate's economic objectives and facilitate trade growth. This includes enhancing the efficiency of the customs system and providing effective services to companies and investors through cutting-edge technologies and innovations, thereby reducing costs and accelerating operations. These efforts strengthen the national economy and support the UAE's sustainable development journey.
Abdulla Gharib Al Qemzi, Director-General of the Statistics Centre - Abu Dhabi, said, "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.
The latest foreign trade figures reflect the effectiveness of these policies, with Abu Dhabi's non-oil economy growing by 6.2 per cent in 2024. This growth highlights the emirate's resilience in adapting to global challenges and reinforces its position as a dynamic economic hub." (ANI/WAM)
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor