Page 347 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 1)

4/23/25, 4:35 PM UAE foreign trade hits $1.42 trillion in 2024, up from $952.9 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.

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