UAE foreign trade hits AED5.23 trillion in 2024

Reinforcing regional and global trade leadership

This significant growth reinforces the UAE’s position as the top trade hub in the Middle East and Africa since 2014, and one of the world’s top 20 centres for goods and services trade. The country’s performance highlights resilience amid global uncertainties and increasing tariffs.

Sheikh Mohammed highlights UAE’s trade strategy

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, emphasised the UAE’s focus on openness, global connectivity, and free trade as a means of strengthening its global role. He noted that the UAE acts as a key link between East and West.

Key trade statistics and rankings

The WTO report highlighted several milestones:

• Total foreign trade: AED5.23 trillion in 2024
• Trade surplus: AED492.3 billion
• 11th globally in merchandise exports
• 13th globally in services exports
• AED646.6 billion in services exports, with AED191 billion from digital services
• AED2.22 trillion in merchandise exports
• 41.4% share of the Middle East’s merchandise exports

Continued commitment to growth and connectivity

Sheikh Mohammed affirmed the UAE’s long-term strategy under the leadership of the President to maintain trade momentum and deepen global economic ties.

Minister Al Zeyoudi on trade vision

Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, credited national vision, open economic policies, and international partnerships for the UAE’s rising status. He reiterated the country’s intent to lead in digital services and integrate with global value chains.

Surplus and trade performance details

In 2024, the UAE achieved a trade surplus of AED492.3 billion, with exports at AED2.8619 trillion and imports at AED2.3696 trillion. The UAE climbed to 11th in merchandise exports and 14th in imports globally between 2021 and 2024.

Growth in digital and services trade

Digital services exports reached US$52 billion (AED191 billion), ranking the UAE 21st globally. Total digital trade stood at US$94 billion. The UAE’s services trade totaled AED1.036 trillion, driven by strong growth in information, tourism, computing, and financial services.

Regional and global trade contributions

The UAE contributed 41.4% of the Middle East’s US$1.5 trillion merchandise exports in 2024. It represented 2% of global services exports and 1.3% of services imports.

Sectoral growth in merchandise trade

In 2024, merchandise growth was led by:

• Office equipment and telecom: 10%
• Electronics: 6%
• Food and agriculture: 3%
• Industrial goods: 2%
• Chemicals and textiles: 1%

Declines were seen in:

• Fuel and mining products: -7%
• Iron and steel: -6%
• Automobiles: -1%

Global merchandise trade reached US$24.43 trillion, growing by 2%.

Looking ahead: Resilience amid global challenges

Despite a forecasted 0.2% global trade contraction in 2025, the UAE’s innovation, diversified economy, and strategic location position it for continued leadership. Regional GDP is expected to grow by 3.2% in 2025 and 3.5% in 2026, with the UAE contributing significantly through sound economic planning and infrastructure development.