The foreign trade of the United Arab Emirates (UAE) reached an impressive Dh5.23 trillion in 2024, representing a significant increase of 49% from Dh3.5 trillion (approximately USD 949 billion) recorded in 2021.
This achievement, based on the latest data from the World Trade Organization (WTO), was revealed on Sunday by Sheikh Mohammed bin Rashid Al Maktoum, the Vice-President and Prime Minister of the UAE and the Ruler of Dubai.
In a social media post, Sheikh Mohammed stated: “The foreign trade of the UAE has hit Dh5.23 trillion in 2024, with a trade surplus surpassing Dh490 billion, positioning the country as a pivotal player in international trade.”
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Service exports significantly contributed to the UAE’s trade performance last year, reaching Dh650 billion, of which digital services accounted for Dh191 billion—30% of total service exports.
“The surge in digital trade showcases the nation’s successful shift towards digitalization and investments in innovation-led sectors,” Sheikh Mohammed noted.
Meanwhile, exports of goods amounted to Dh2.2 trillion, marking a 6% increase from the prior year. Sheikh Mohammed underscored the UAE’s leading regional role, asserting: “The UAE now represents 41% of the total commodity exports from the Middle East, reinforcing its status as the foremost trade hub in the region.”
The ruler of Dubai attributed these accomplishments to the UAE’s steadfast policy of economic openness, international cooperation, and the free flow of trade, capital, and people.
“In a world confronting significant economic and trade challenges, the UAE has chosen from the outset a policy of openness, collaboration, and the unimpeded movement of goods, capital, and individuals. Today, it stands as a bridge between East and West… and as a global economic center,” he stated.
He also acknowledged the contributions of President Sheikh Mohamed in maintaining the UAE’s trajectory of economic progress.
<p“Thank God, this achievement will continue,” he expressed. “With the support of my brother, the President of the State, we will protect and expand our gains.”
Sheikh Mohammed reaffirmed the UAE’s commitment to a strategy of openness and economic integration, stating, “By adhering to our policy of openness, liberalizing trade, and constructing connections, growth and leadership will remain our companions, God willing.”
Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, echoed this perspective, noting the UAE’s ascending position in global trade rankings. “Fueled by visionary leadership and a dedication to economic openness, innovation, and global integration, the UAE has cemented its role as a global trade hub,” he stated.
The Minister reported that in the previous year, the UAE ranked 11th globally in merchandise exports and 13th in service exports, achieving a trade surplus of Dh492.3 billion. This comprised merchandise exports totaling Dh2.22 trillion and service exports of Dh646.6 billion, with digital services contributing Dh191 billion.
“These accomplishments arise from national initiatives, adaptable policies, and robust international partnerships. The UAE will continue to enhance its global influence by facilitating trade, broadening collaborations, and integrating with global value chains,” added Al Zeyoudi.