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UAE’s maritime sector sees impressive growth, contributing AED129 bn to GDP

Country transforms into competitive maritime hub, ranks fifth globally
UAE’s maritime sector sees impressive growth, contributing AED129 bn to GDP
UAE's pivotal role in maritime industry praised

Suhail Mohamed Al Mazrouei, UAE’s minister of Energy and Infrastructure, praised the country’s role within the International Maritime Organization (IMO), highlighting the country’s transformation into a leading maritime nation. Al Mazrouei noted that in 2022, the maritime sector’s contribution to the UAE’s GDP reached AED129 billion (roughly $35 billion), marking an impressive 18 percent growth compared to 2021. The UAE has garnered recognition in several global competitiveness indicators, securing the third spot in both transport services trade and the Bunker Supply Index, while also ranking fifth as a highly competitive maritime hub on a global scale.

The UAE has strengthened its already prominent status as one of the leading global maritime hubs, establishing itself as a crucial influencer in the worldwide advancement of the maritime industry.

The UAE’s practices, decisions, and legislative actions have played a pivotal role in driving the growth of the sector, advancing international maritime safety standards, and safeguarding the global marine environment.

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Al Mazrouei added, “Through the UAE’s membership in the IMO Council, we are committed to collaborating with other member states in advancing the global maritime sector and the shipping industry. Our collective mission is to promote the safety, security, and efficiency of maritime transport in clean oceans, in line with the IMO’s goals.

“The UAE has been actively engaged in introducing significant amendments to various decisions that contribute to the development and enhancement of the work system, ensuring alignment with global changes and modern technologies. These amendments are designed to alleviate the burden on ship owners and maritime companies while also contributing to the safety, security, and protection of the marine environment worldwide,” he added.

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