UAE foreign trade reaches AED5.23 trillion in 2024
The UAE foreign trade touched AED5.23 trillion ($1.424 trillion) in 2024, a 49 per cent increase from AED3.5 trillion ($949 billion) in 2021, according to the World Trade Organisation's latest report.
The growth reflects the UAE's strategic economic vision, reinforcing its position as the leading trade hub in the Middle East and Africa since 2014 and among the top 20 global trade centres for goods and services.
In a global trade environment marked by 2.9 per cent growth in merchandise trade and 6.8 per cent in services trade in 2024, the UAE's performance underscores its resilience amid rising tariffs and uncertainties.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, emphasised the UAE's role as a global trade hub, saying, 'In a world of economic and trade challenges, the UAE has prioritised openness, connectivity, and the free flow of trade, capital, and people, establishing itself as a vital link between East and West and a global economic centre."
In a post on his official social media handle, Sheikh Mohammed highlighted key achievements from the WTO report.
He said "the UAE exported goods worth AED 2.2 trillion in 2024, marking a 6 per cent growth over the previous year" and recorded 41 per cent of the total commodity exports in the region.
The country also "exported services worth AED 650 billion in 2024, of which AED 191 billion were digital services, representing 30 per cent of total service exports".
"Our commitment to openness, trade liberalisation, and global connectivity will ensure continued growth," Sheikh Mohammed added.
Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, highlighted that "the UAE has solidified its status as a global trade hub. Ranking 11th in merchandise exports and 13th in services exports, with a trade surplus of AED492.3 billion, the UAE achieved merchandise exports of AED2.22 trillion and services exports of AED646.6 billion, including AED191 billion in digital services, reflecting 30 percent growth and leadership in future-oriented sectors.
"These achievements stem from national efforts, flexible policies, and strong international partnerships. The UAE will continue to enhance its global role by facilitating trade, expanding collaborations, and integrating with global value chains."
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