The United Arab Emirates (UAE) recorded total foreign trade of AED5.23 trillion ($1.42 trillion) in 2024, marking a remarkable 49 percent increase from AED3.5 trillion ($952.9 billion) in 2021, according to the World Trade Organisation’s “World Trade Outlook and Statistics” report.
This growth reflects the UAE’s strategic economic vision, reinforcing its status as the leading trade hub in the Middle East and Africa since 2014 and positioning it among the top 20 global trade centers for goods and services. In a global trade landscape characterized by 2.9 percent growth in merchandise trade and 6.8 percent in services trade in 2024, the UAE’s performance highlights its resilience in the face of rising tariffs and uncertainties.
UAE as a global trade hub
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, emphasized the UAE’s pivotal role as a global trade hub, stating, “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.”
Key achievements highlighted
H.H. Sheikh Mohammed bin Rashid Al Maktoum underscored significant achievements from the WTO report, noting that foreign trade reached AED5.23 trillion in 2024, with a trade surplus of AED492.3 billion, establishing the UAE as a vital driver of international trade. The UAE ranked 11th globally in merchandise exports and 13th in services exports. Services exports amounted to AED646.6 billion, including AED191 billion in digital services, which accounted for 30 percent of service exports. Merchandise exports totaled AED2.22 trillion in 2024, and the UAE contributed 41.4 percent of the Middle East’s merchandise exports, solidifying its role as the region’s primary trade hub. H.H. Sheikh Mohammed bin Rashid Al Maktoum concluded, “Under the leadership of the President, we will sustain and enhance these achievements. Our commitment to openness, trade liberalisation, and global connectivity will ensure continued growth and leadership.”
Economic resilience amid global uncertainties
The UAE’s exceptional performance, as outlined in the WTO’s report, showcases its economic resilience despite global trade uncertainties. Comprehensive foreign trade (goods and services) grew by 49 percent from 2021, reaching AED5.23 trillion ($1.424 trillion) in 2024. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, affirmed, “Driven by visionary leadership and a commitment to economic openness, innovation, and global integration, 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.” Al Zeyoudi added, “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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Trade balance and export growth
The UAE achieved a trade balance surplus of AED492.3 billion ($134 billion) in 2024, slightly down from AED573.1 billion in 2023, reflecting stability amid global challenges. Exports totaled AED2.8619 trillion, against imports of AED2.3696 trillion, according to 2021–2024 statistics. The UAE advanced from 17th to 11th globally in merchandise exports and from 18th to 14th in imports between 2021 and 2024, contributing 2.5 percent to global merchandise exports and 2.2 percent to imports. Exports reached $603 billion (AED2.2153 trillion), while imports totaled $539 billion (AED1.9802 trillion) in 2024.
Advancements in digital services
The UAE ranked 21st globally in digital services exports, valued at $52 billion (AED191 billion) in 2024, an increase from $37 billion in 2021 and $48 billion in 2023. Total digital services trade reached $94 billion (AED345 billion), representing one-third of services trade. Digital services imports, at $42 billion (AED154 billion), also ranked 21st, contributing 1.1 percent to global imports, reinforcing the UAE’s role as a technology hub.
Services trade breakdown
Services trade totaled AED1.036 trillion ($282 billion) in 2024, with exports of AED646.6 billion (62.4 percent) and imports of AED389.4 billion. Information services grew by 14 percent, tourism by 13 percent, computer services by 12 percent, financial services by 9 percent, and transport, intellectual property, and insurance services by 8 percent each, contributing 26.4 percent to global trade, the highest share since 2005. The UAE accounted for 41.4 percent of the Middle East’s $1.5 trillion in merchandise exports, with regional exports growing by 3.7 percent and services by 4.1 percent in 2024. Globally, the UAE contributed 2 percent to services exports and 1.3 percent to imports, with service exports of $176 billion (AED646.6 billion) and imports of $106 billion (AED389.4 billion).
Growth in services exports
The UAE further advanced from 17th to 13th in services exports and from 19th to 21st in services imports between 2021 and 2024, with services comprising 20 percent of total trade. In 2024, merchandise sectors experienced growth, with office equipment and telecommunications at 10 percent, electronics at 6 percent, and agricultural products, food, and clothing at 3 percent each. Industrial goods rose by 2 percent, while chemicals and textiles increased by 1 percent. Conversely, fuel and mining products fell by 7 percent, iron and steel by 6 percent, and automobiles by 1 percent. Global merchandise exports grew by 2 percent, reaching $24.43 trillion.
Future outlook and strategic positioning
Moreover, the UAE’s achievements reflect its strategy of innovation and diversification, positioning it to navigate a forecasted 0.2 percent decline in global merchandise trade in 2025. Contributing to a 1.6 percent regional GDP growth in 2024, with projections of 3.2 percent in 2025 and 3.5 percent in 2026, the UAE remains resilient. Its economic policies, strategic location, and advanced infrastructure further solidify its role as a global trade hub.
