94% of UAE businesses confident of upside amid tariff turbulence, outpacing global sentiment: HSBC survey
Businesses in the UAE remain highly confident in their international trade prospects, with 94% saying they expect to grow cross-border trade in the near future. Despite ongoing uncertainty and cost headwinds from tariffs, UAE firms are leaning into enhanced planning and digital solutions to stay ahead.
This is according to the findings of HSBC's 2025 Global Trade Pulse Survey, which offers insight into the business plans and sentiment of over 5,700 international firms across 13 markets regarding tariffs and trade. The survey was conducted between April 30 and May 12, 2025, spanning 13 key markets.
It reveals that two thirds of corporations globally have already experienced cost increases due to tariff and trade uncertainty – and the worst may be yet to come. In contrast, companies in the UAE are incredibly optimistic about their future international trade prospects, as they have not suffered particularly pronounced impacts on cost yet, though they do expect to in the short-and-long-term.
Deyana Cherneva, Head of Global Trade Solutions, Middle East North Africa and Türkiye, HSBC Bank Middle East said: 'Corporates in the UAE have their counter strategies ready in response to the rapidly evolving trade landscape. Using data, investing in supply chains, and increasing reliance on the Middle East, China, and Europe corridors, are part of their plans.
Geopolitical and geoeconomic shifts have been a mainstay across decades and resilient businesses know how to adapt and respond. What is encouraging to see is that 75% of corporates in the UAE plan to use the trade uncertainty as an opportunity to evolve and explore new opportunities.'
Key findings include:
Top sales markets: UAE (83%), India (34%), UK (32%), US (32%), Germany (19%)
Top sourcing markets: UAE (78%), India (40%), US (39%), UK (32%), Germany (25%)
Cost pressures: 65% of UAE firms have already experienced average cost increases due to tariffs; 76% expect further increases in the next 6 months
Revenue impact: Expected average revenue impact on a UAE business is 19%, slightly above the global average of 18%
Strategic responses: 48% of UAE companies are enhancing data analytics, while others are investing in risk management, supply chain visibility, and entering new markets
The UAE's proactive approach is also reflected in increased regional trade ties. 62% of surveyed UAE firms say they are ramping up reliance on the Middle East, followed by China (47%) and Europe (43%).
-Ends-
Media enquiries to:
Ahmad Othman
ahmad.othman@hsbc.com
About HSBC in the MENAT region
HSBC is the largest and most widely represented international banking organisation in the Middle East, North Africa and Türkiye (MENAT), with a presence in nine countries across the region: Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Türkiye and the United Arab Emirates. In Saudi Arabia, HSBC is a 31% shareholder of Saudi Awwal Bank (SAB), and a 51% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom. Across MENAT, HSBC had assets of US$73bn as at 31 December 2024.
www.hsbc.ae
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