In numbers: UAE foreign trade soars Dhs5.23tn in 2024

The UAE’s total foreign trade hit Dhs5.23tn ($1.424tn) in 2024 — up 49 per cent from Dhs3.5tn in 2021, according to the WTO’s latest World Trade Outlook and Statistics report.

The surge cements the UAE’s status as the top trade hub in the Middle East and Africa and among the world’s top 20 trade centres for goods and services.

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of 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.”

The numbers

• Trade surplus: Dhs492.3bn in 2024
• Merchandise exports: Dhs2.22tn
• Services exports: Dhs646.6bn — including Dhs191bn in digital services (30 per cent of the total)
• Regional dominance: UAE contributed 41.4 per cent of the Middle East’s merchandise exports
• Global rankings: 11th in merchandise exports, 13th in services exports

Compared to global standards

While global trade saw moderate growth — 2.9 per cent for merchandise and 6.8 per cent for services — the UAE outpaced trends and reinforced its role as a resilient and adaptive global trade hub.

The country’s strategic investments in digital trade, infrastructure, and connectivity have helped it weather rising tariffs and economic uncertainty.

Milestones achieved

According to Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade:

1. The country achieved a trade surplus of Dhs492.3bn in 2024
2. Merchandise exports hit Dhs2.22tn
3. Services exports stood at Dhs646.6bn, with digital services growing 30 per cent
4. UAE ranked 21st globally in digital services exports (Dhs191bn), rising from $37bn in 2021 to $52bn in 2024
5. The nation’s total digital trade hit Dhs345bn, with digital services imports at Dhs154bn, reinforcing the UAE’s standing as a tech-forward economy.

By the sectors

1. Information services: grew by 14 per cent
2. Tourism: rose by 13 per cent
3. Computer services: went up by 12 per cent
4. Financial services:  grew 9 per cent
5. Transport, IP, insurance:  rose by 8 per cent
6. Services accounted for 26.4 per cent of global trade — the highest since 2005

Looking ahead

Though the UAE’s 2024 trade balance surplus dropped slightly from Dhs573.1bn in 2023, the country remains a key global player:

• Exports: Dhs2.8619tn
• Imports: Dhs2.3696tn
• It contributed 2.5 per cent to global merchandise exports and 2.2 per cent to imports.

Between 2021–2024, the UAE jumped from 17th to 11th globally in merchandise exports and from 18th to 14th in imports.

In services, the UAE advanced from 17th to 13th in exports and 19th to 21st in imports.

The big picture

Global merchandise exports reached $24.43tn in 2024, growing 2 per cent. The UAE’s own merchandise sector saw varied results:

• Office equipment and telecom: grew by 10 per cent
• Electronics: rose by 6 per cent
• Agricultural products, food, clothing: grew by 3 per cent each
• Industrial goods: went higher by 2 per cent
• Chemicals and textiles: rose by 1 per cent
• Fuel, mining, iron, steel and automotive: declined between 1–7 per cent

Foreign trade, GDP: What’s next

Despite a projected 0.2 per cent decline in global trade in 2025, the UAE remains resilient, contributing to a 1.6 per cent regional GDP growth in 2024, with forecasts of 3.2 per cent in 2025 and 3.5 per cent in 2026.

Its strategic vision, diversified economy, and investment in digital infrastructure position it to lead the next phase of global trade evolution.

Dr Al Zeyoudi affirmed, “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.”

Read: Abu Dhabi’s non-oil foreign trade touches Dhs306bn in 2024