In 2024, the Emirates continue to strengthen their position as a global trading hub, showcasing exceptional results, as confirmed by a recent report from the World Trade Organization. The total volume of the Emirates’ foreign trade, including goods and services, amounted to 5.23 trillion dirhams (1.424 trillion dollars) for 2024 compared to 3.5 trillion dirhams in 2021, representing a growth of more than 49% over three years.
Among the achievements of the UAE, it is worth highlighting a positive trade balance of 492.3 billion dirhams in 2024, which is significantly lower than 573.1 billion dirhams in 2023. This indicates the economic stability of the country in the face of global challenges.
It is also worth noting that for the Emirates, the shares of world exports and imports comprise 2% and 1.3% respectively, with a total export volume of services amounting to 176 billion dollars (646.6 billion dirhams) and imports at the level of 106 billion dollars (389.4 billion dirhams) in 2024. This balance between goods and services reflects the economic diversification actively pursued by the Emirates.
The Minister of Foreign Trade of the UAE, Dr. Thani bin Ahmed Al Zeyoudi, emphasized that the country continues to strengthen its position as a global trading and investment center, driven by a wise vision of its leadership and economic openness, as well as a commitment to innovation and integration in global markets.
He emphasized that the Emirates have improved their positions in global rankings, achieving 11th place in the world for goods exports and 13th for service exports, creating a trade surplus of over 492 billion dirhams. The growth of goods exports from the country amounts to 2.22 trillion dirhams and services - to 650 billion dirhams, including 191 billion dirhams in exports of digital services, which has grown by 30%, demonstrating economic diversification and a leading position in the sectors of future industries.
