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UAE's Foreign Trade Surge Highlights Strategic Economic Vision

 

UAE's Foreign Trade Surge Highlights Strategic Economic Vision

The UAE's foreign trade reached a record AED5.23 trillion (US$1.42 trillion) in 2024, marking a 49% increase since 2021 and reinforcing its global economic influence. Despite fluctuating global market conditions, the country managed to post a trade surplus of AED492.3 billion (US$134 billion), showcasing the strength of its trade frameworks and diversified economy.

According to the World Trade Organisation, the UAE has maintained its position as the Middle East and Africa's foremost trade community since 2014, while steadily climbing the global ranks. In merchandise trade, the UAE placed 11th in exports and 14th in imports in 2024. It contributed 2.5% of global exports and 2.2% of imports, reflecting a robust trading ecosystem that bridges major global markets.

The services sector also delivered notable gains. From 2014 to 2024, the UAE rose to 13th globally in service exports. Service transactions in 2024 totaled AED1.036 trillion, of which AED646.6 billion were exports. The UAE’s growth in this space is supported by its emphasis on knowledge-based sectors like tourism, finance, and digital innovation.

Digital trade stood out as a key driver of growth. Digital services generated US$94 billion (AED345 billion) in total revenue, with exports rising from US$37 billion in 2021 to US$52 billion in 2024. This accounted for nearly one-third of the country’s service export value, a testament to the UAE’s transformation into a digital-first, technology-driven economy.

The region's leader in merchandise exports, the UAE also played a central role in the Middle East’s total US$1.5 trillion export volume in 2024. Services trade grew even faster at 4.1%, outpacing merchandise growth of 3.7%, reflecting changing global consumption patterns and the UAE's proactive response.

Through continuous innovation, open trade policies, and visionary leadership, the UAE continues to connect East and West. Its performance in global trade affirms its role as a trusted partner and forward-looking hub for economic activity.

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