UAE non-oil exports excluding re-exports jump 130% to $150b

The Gulf Cooperation Council's (GCC) growing network of free trade agreements (FTAs) could redefine the region's economic future, but only if their design matches their ambition.

- Staff Reporter, Gulf Today

A new study by Arthur D. Little (ADL) highlights that while new trade frameworks promise to expand market access, their long-term value will depend on the quality of the Rules of Origin (RoO) and Product-Specific Rules (PSRs) that determine who truly benefits.

These provisions decide whether a product qualifies for preferential tariffs, shaping export competitiveness and protecting or exposing emerging local industries.

For the GCC - and particularly for the UAE, which is advancing multiple FTAs and Comprehensive Economic Partnership Agreements - the immediate test is ensuring that new trade deals strengthen local industries instead of diluting them.

GCC non-oil exports have risen from $330 billion in 2018 to $411 billion in 2023, a near 25 percent increase in five years. Imports, however, have grown even faster from $512 billion to $804 billion during the same period - widening the region’s non-oil trade deficit.

In the UAE alone, non-oil exports excluding reexports climbed from $65 billion in 2019 to $150 billion in 2024, marking a 130 per cent increase in five years.

Imports have grown even faster from $512 billion in 2018 to $804 billion in 2024.

These figures highlight the importance of designing future agreements that translate headline growth into sustainable, broad-based economic gains.