
UAE telecom services trade up 4.3% to $2.77bln in 2024
This growth was largely driven by a strong performance in the fourth quarter of 2024, which recorded a year-on-year increase of 12.95 percent, bringing the quarterly trade value in telecom services to AED2.70 billion.
The data also revealed that telecom service exports rose by 6.49 percent in 2024 to AED4.9 billion, while imports grew by 2.38 percent to AED5.3 billion.
The fourth quarter recorded the highest share of annual telecommunications trade at 26.45 percent, followed by the third quarter at 25.34 percent (AED2.59 billion), the second quarter at 25.05 percent (AED2.56 billion); and the first quarter at 23.17 percent (AED2.37 billion).
This robust performance underscores the strategic role of the telecom sector in supporting the UAE's digital economy, the expansion of e-commerce, and the development of technological infrastructure.
FCSC is a government centre affiliated with the Ministry of Cabinet Affairs. FCSC was established to develop and enhance the UAE's performance in the areas of global competitiveness, statistics and data, and to support the country's journey in achieving UAE's Centennial Plan 2071.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Khaleej Times
16 minutes ago
- Khaleej Times
UAE encourages an abundant mindset, says British expat
British expatriate Nazia Khan has been in Dubai for about half a decade. The women's health and fitness coach, who has built a business in the emirate, sees money as 'freedom' and values the relationship of respect she has built with it over the years. She tells us about the financial lessons she has learnt during her journey. If you had to write a letter to money, what would you say? Dear Money, thank you for being a mirror. You've shown me where I've held fear, where I've felt scarcity, and where I've doubted my own worth. You've taught me that you're not the enemy — you're a tool, a resource, and an amplifier of my intentions. When I chased you, you ran. When I respected you, you grew. When I aligned my purpose with you, you flowed. I no longer see you as something to hoard or fear, but as energy that supports freedom, impact, and choice. Thank you for teaching me that my value doesn't come from you — but that together, we can create incredible change in this world. With gratitude and respect, Nazia. How would you describe your relationship with money? Now, it's strong and healthy. I'm actively manifesting greater wealth because I've trained my mindset to operate from intention and abundance. My energy is aligned with growth, and that alignment has unlocked new levels of success in my life. What lessons about money management did you learn from your mother? My mum is the definition of discipline — she's a saver, she budgets carefully, and she spends with intention and wisdom. My dad, on the other hand, was the opposite. He was spontaneous with money, loved to spend big, and enjoyed spoiling me. I had a very close relationship with him, and like many daughters, I was deeply influenced by my father's approach. So, despite my mum's strong example of financial discipline, I initially took my dad's lead. I adopted a more carefree, indulgent relationship with money in my younger years. It's only later, through my own growth and mindset work, that I learned to merge both energies to create the balanced, intentional relationship with money I have today. Who do you speak to about money and is it something you consider 'taboo'? I openly discuss money with my partner, Ravi, and a few trusted friends and mentors. I don't consider talking about money taboo at all — I see it as an energy exchange and a vital part of growth. The more we speak about it openly, the more empowered we become. Who has taught you the most about financial management? My mum laid the foundation with her discipline and saving habits, but I've learned the most from my own experiences and mentors. The biggest lessons came from building and scaling my own business — that's where the real financial management skills were forged. What has been your most profound experience in relation to money, and what has it taught you? My most profound experience was investing heavily in myself and my business at a time when it felt risky. It taught me that betting on yourself is always the best investment. It forced me to expand, trust, and move from scarcity to abundance. How do you think living in the UAE has changed your relationship with and perception of money? The environment here encourages big thinking, bold moves, and an abundant mindset. It pushed me to value experiences and growth over just saving, and to think of money as a tool for impact and freedom. If you could give your child or your younger self one piece of advice about money what would it be and why? Money flows to those who respect it. Don't chase it blindly — build value, stay disciplined, and understand that abundance starts in your mind long before it shows up in your bank account. What do you value spending money on? I value spending on experiences that create memories: travel, wellness, personal growth, and time with loved ones. What do you consider splashing out? Splashing out for me is a luxurious travel experience — luxury flights, beautiful hotels, and dining in places that create unforgettable moments. And also, jewellery. How much do you save each month? Usually around 30–40 per cent of my income. How much do you plan to have by the time you are 65? My goal is to build an eight-figure net worth by 65, with diversified income streams that allow me to continue making an impact while enjoying complete financial freedom.


Khaleej Times
16 minutes ago
- Khaleej Times
DP World posts double-digit growth as global trade platform shows resilient
DP World has reported a strong financial and operational performance for the first half of 2025, highlighting the resilience of its integrated global trade platform in the face of ongoing geopolitical tensions, shipping disruptions, and uncertainty over global trade tariffs. Revenue for the six months to June 30 rose 20.4 per cent year-on-year to $11.244 billion, driven by robust growth in its Ports & Terminals division and contributions from recent acquisitions. Adjusted Ebitda increased 21.4 per cent to $3.033 billion, while container volumes climbed 6.7 per cent across its global portfolio to reach 45.4 million TEUs (twenty-foot equivalent units). On a like-for-like basis, volumes rose 5.6 per cent. Group chairman and CEO Sultan Ahmed bin Sulayem said the results underscored the effectiveness of DP World's strategy of offering integrated end-to-end supply chain solutions and operating critical infrastructure in key global markets. 'Ongoing geopolitical tensions, the closure of the Red Sea route, and rising uncertainty around trade tariffs have caused significant disruption across the industry. Despite these challenges, our network and capabilities have allowed us to support cargo owners and deliver a strong set of results,' he said. Across the company's regions, Asia Pacific and India posted a 2.6 per cent increase in gross container throughput to 21.75 million TEUs, while Europe, the Middle East and Africa saw volumes rise 12 per cent to 16.91 million TEUs. In the Americas and Australia, throughput climbed 7.9 per cent to 6.78 million TEUs. DP World's flagship Jebel Ali Port handled 7.77 million TEUs, up 6 per cent year-on-year. At terminals where DP World has operational control, the company handled 27.4 million TEUs in the first half, a 7.5 per cent increase on the same period last year. The group's profitability saw a notable surge, with operating profit (EBIT) rising 27.3 per cent to $1.902 billion, total profit increasing 68.5 per cent to $960 million, and profit attributable to owners doubling to $532 million. The Ebitda margin improved slightly to 27 per cent from 26.8 per cent a year earlier. Group Deputy CEO and CFO Yuvraj Narayan credited the performance to ongoing strength in Ports & Terminals and Marine Services, combined with disciplined balance sheet management. 'We remain well-positioned to fund strategic growth, maintain our credit profile, and adapt to changing market conditions,' he said. DP World invested $1.08 billion in capital expenditure during the first half, with a full-year capex target of $2.5 billion. The funds are earmarked for expanding Jebel Ali Port, upgrading Drydocks World facilities, developing Tuna Tekra in India, enhancing London Gateway in the UK, and building capacity in Dakar, Senegal. Additional investments are being directed into DP World Logistics and P&O Maritime Logistics to expand terminal capacity, integrate supply chains, and strengthen digital capabilities. The company's logistics arm has been a key growth driver, with its freight forwarding platform now spanning about 300 locations and covering more than 90 per cent of global trade lanes. Through Unifeeder, DP World continues to provide multimodal transport solutions that have helped maintain cargo flows amid global supply chain disruptions. Sulayem said recent acquisitions have broadened DP World's service offering, introducing specialised capabilities to meet the evolving needs of cargo owners. 'These investments address inefficiencies and strengthen connectivity across key trade corridors, enabling us to deliver more resilient and tailored solutions,' he said. DP World expects its full-year Ebitda performance to remain strong, underpinned by sustained volume growth, operational leverage in its ports business, and continued execution of its global integration strategy. Despite macroeconomic headwinds, the company remains confident about the medium- to long-term outlook for global trade. 'As supply chains evolve, DP World is well-positioned to lead the industry in delivering efficient, resilient, and sustainable trade solutions that create long-term value,' Sulayem said.


Khaleej Times
16 minutes ago
- Khaleej Times
Fed expected to stick with regular-sized rate cut after hot inflation data
A jump in U.S. wholesale prices last month looks to have all but erased the possibility that the Federal Reserve will deliver a jumbo-sized half-percentage-point interest rate cut in September, though expectations for a quarter-percentage-point move next month, followed by another in October, remain intact. U.S. producer prices rose 0.9% in July amid a surge in the costs of goods but also of services like machinery and equipment wholesaling, the Labor Department's Bureau of Labor Statistics said on Thursday. The increase, which far exceeded economists' expectations, may get passed on to consumers, who so far have not experienced a strong overall increase in prices even as the Trump administration has ratcheted up import tariffs. "We expect a stronger pass-through of levies into consumer prices in coming months, with inflation likely to climb modestly over the second half of 2025," said Ben Ayers, senior economist at Nationwide. The rise in services inflation will be particularly worrisome to Fed policymakers like Chicago Fed President Austan Goolsbee, who said on Wednesday he's on alert for signs that inflation is seeping into prices beyond those for goods affected directly by tariffs. An increase in services inflation, also evident in the consumer price data released on Tuesday, suggests inflation could become a more persistent problem, he said. U.S. Treasury Secretary Scott Bessent, who is leading the search for a replacement for Fed Chair Jerome Powell, has been pushing for a bigger rate cut next month, citing tame inflation, though on Thursday he said the U.S. central bank could start with a quarter-percentage-point move. Before the data, traders put about a 3% probability on the idea of a half-percentage-point rate cut, with most bets firmly on a quarter-percentage-point reduction. After the data, traders erased bets on a 50-basis-point move. San Francisco Fed President Mary Daly, who signaled earlier this week that she is increasingly open to the idea of a rate cut given the softening in the labor market, told the Wall Street Journal in a story published on Thursday that a 50-basis-point rate cut would signal an urgency about the job market that she does not feel. "It has been acting as a bucket of really cool water poured on the heads of those calling for 50 basis points in September," Slawomir Soroczynski, head of fixed income at Crown Agents Investment Management, said after the data. Rate-sensitive two-year Treasury yields jumped more than five basis points after the data and were last at 3.722%, over three basis points higher than on Wednesday. Benchmark 10-year yields were up about two basis points on the day, at 4.264%. "The large spike in the Producer Price Index this morning shows inflation is coursing through the economy, even if it hasn't been felt by consumers yet," said Chris Zaccarelli, chief investment officer for Northlight Asset Management. "Given how benign the CPI (consumer price index) numbers were on Tuesday, this is a most unwelcome surprise to the upside and is likely to unwind some of the optimism of a 'guaranteed' rate cut next month," he said in a note. The Fed will get another round of inflation data and a fresh jobs report before its September 16-17 policy meeting.