Page 362 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 1)

4/23/25, 4:36 PM UAE Foreign Trade Reaches AED5.23 Trillion in 2024
Services trade totalled AED1.036 trillion (US$282 billion) in 2024, with exports of AED646.6 billion (62.4 per cent) and imports of
AED389.4 billion. Information services grew by 14 per cent, tourism by 13 per cent, computer services by 12 per cent, financial services
by 9 per cent, and transport, intellectual property, and insurance services by 8 per cent each, contributing 26.4 per cent to global trade,
the highest share since 2005.

The UAE accounted for 41.4 per cent of the Middle East’s US$1.5 trillion merchandise exports, with regional exports growing by 3.7 per
cent and services by 4.1 per cent in 2024. Globally, the UAE contributed 2 per cent to services exports and 1.3 per cent to imports, with
service exports of US$176 billion (AED646.6 billion) and imports of US$106 billion (AED389.4 billion).
The UAE advanced from 17th to 13th in services exports and from 19th to 21st in services imports between 2021 and 2024, with
services comprising 20 per cent of total trade.
In 2024, merchandise sectors grew, with office equipment and telecommunications at 10 per cent, electronics at 6 per cent, and
agricultural products, food, and clothing at 3 per cent each. Industrial goods rose by 2 per cent, and chemicals and textiles by 1 per cent,
while fuel and mining products fell by 7 per cent, iron and steel by 6 per cent, and automobiles by 1 per cent. Global merchandise
exports grew by 2 per cent, reaching US$24.43 trillion.

The UAE’s achievements reflect its strategy of innovation and diversification, positioning it to navigate a forecasted 0.2 per cent decline
in global merchandise trade in 2025. Contributing to a 1.6 per cent regional GDP growth in 2024, with projections of 3.2 per cent in 2025
and 3.5 per cent in 2026, the UAE remains resilient. Its economic policies, strategic location, and advanced infrastructure solidify its role
as a global trade hub.

–WAM

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