UAE Non-Oil Trade Nears AED 3 Trillion as Gold and Jewellery Exports Hit Records

Key Takeaways

• UAE non-oil foreign trade reached a record AED 2.945 trillion during the first nine months of 2026, increasing 10.1% year over year.
• Non-oil exports surged 21.6% to AED 705.8 billion, with monthly exports exceeding AED 100 billion for the first time in September.
• Gold, jewellery and tobacco products were the UAE’s leading export categories.
• Switzerland, Hong Kong and India ranked among the largest destinations for UAE non-oil exports.
• Trade with countries covered by the UAE’s Comprehensive Economic Partnership Agreements reached AED 510.8 billion.

The UAE’s non-oil foreign trade approached AED 3 trillion for the first time during the opening nine months of 2026, supported by record exports of gold, jewellery and other goods.

Total non-oil trade reached AED 2.945 trillion between January and September, representing growth of 10.1% from the same period last year. The figures underline the expanding role of international commerce in the UAE’s strategy to reduce its economic dependence on hydrocarbons.

Non-oil exports delivered the strongest growth, increasing 21.6% to a record AED 705.8 billion. Imports rose 11.5% to AED 1.661 trillion, while re-exports totalled AED 578 billion.

UAE Trade Reaches a New Nine-Month Record

The latest figures show that exports are accounting for a larger share of the UAE’s total non-oil trade.

Non-oil exports represented 24% of total trade during the first nine months, up from 21.7% in the same period last year. September also became the first month in which UAE non-oil exports exceeded AED 100 billion.

The breakdown of the nine-month trade total was as follows:

The third quarter alone generated AED 1.025 trillion of non-oil trade, increasing 7.1% from the same period last year and 11.1% from the second quarter.

Quarterly non-oil exports reached AED 256.1 billion, rising 19% year over year and 16.2% from the previous quarter. It was the fifth consecutive quarter in which exports exceeded AED 200 billion.

Gold and Jewellery Lead UAE Export Growth

Gold, jewellery and tobacco products were the leading UAE non-oil export categories during the period.

Exports of the country’s ten largest commodity groups increased 35.8% from the previous year. Across imports, exports and re-exports combined, gold, telephone equipment and jewellery were the most heavily traded goods.

The ten largest commodity categories generated AED 2.011 trillion of trade, up 22.1% year over year and equal to approximately 68% of the country’s total non-oil commerce.

Gold’s importance reflects the UAE’s position as a major global refining, trading and distribution centre. Dubai connects gold producers across Africa and Central Asia with jewellery manufacturers, institutional buyers and consumers in India, China and the wider Middle East.

In the first half of 2026 alone, gold trade was valued at AED 706.2 billion, representing growth of 48.8% from the previous year. Telecommunications equipment, gold jewellery, automobiles and diamonds were the next-largest product categories.

Switzerland, Hong Kong and India Drive Export Demand

Switzerland, Hong Kong and India were the leading destinations for UAE non-oil exports.

Exports to Switzerland increased 75.8%, while shipments to Hong Kong rose 59.1%. Both markets are important global centres for gold, precious metals and financial trading.

Exports to the UAE’s ten largest trading partners increased 31.6% year over year. However, total trade with countries outside the top ten also grew 11.9%, compared with growth of 8.3% among the largest partners.

The figures suggest that the UAE is simultaneously deepening its established commercial relationships and expanding into new markets.

China remained the largest source of UAE imports, followed by India and the United States. Imports from the US increased 5.3%. Gold, mobile phones and refined petroleum products were the largest import categories.

CEPA Agreements Support Trade Expansion

The UAE’s expanding network of Comprehensive Economic Partnership Agreements is helping companies enter overseas markets and reduce trade barriers.

As of October 20, the UAE had 19 CEPAs in force covering 23 countries. Non-oil trade with those countries reached approximately AED 510.8 billion during the first nine months.

The total included:

• AED 317.6 billion of imports
• AED 104.6 billion of re-exports
• AED 88.5 billion of UAE non-oil exports

Trade with CEPA countries increased 6.6% from 2024, 25.5% from 2023 and 52.1% from 2022. It was nearly twice the 2021 level and more than double the amount recorded in 2019.

By reducing tariffs and simplifying customs procedures, the agreements are intended to make UAE exports more competitive while reinforcing the country’s role as a gateway connecting Asia, Africa, Europe and the Middle East.

UAE Retains Its Position as a Re-Export Hub

Re-exports reached AED 578 billion during the nine-month period, demonstrating the continued importance of the UAE’s ports, airports, free zones and logistics networks.

Saudi Arabia was the largest destination for UAE re-exports, followed by Iraq and Oman. Re-exports to Oman increased 71.5% from the previous year.

Telephone equipment, diamonds and automobiles were the leading re-exported goods. These categories benefit from the UAE’s advanced logistics infrastructure and its proximity to large consumer markets across the Gulf, South Asia and Africa.

Recent disruptions around the Strait of Hormuz have increased the importance of alternative shipping routes, air freight and overland logistics. The trade figures suggest that UAE businesses have continued moving goods despite higher transportation costs and regional uncertainty.

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What the Trade Record Means for the UAE Economy

The expansion supports economic activity across logistics, banking, insurance, aviation, manufacturing, precious metals and wholesale trade.

Stronger exports can increase demand for trade finance, foreign-exchange services and shipping capacity. Record gold and jewellery flows may also support Dubai’s precious-metals industry, including refiners, jewellery retailers and commodity-trading businesses.

The figures provide further evidence that the UAE’s economic growth is becoming more diversified. Imports remain the largest component of trade, but the faster growth in domestically produced non-oil exports indicates a gradual shift toward production and international sales.

Geopolitical tensions, high freight costs and slower global growth remain potential risks. Nevertheless, reaching AED 2.945 trillion in only nine months places the UAE on course for another full-year record and strengthens its position as one of the world’s leading trade and distribution hubs.