Page 409 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 1)

4/23/25, 3:31 PM UAE foreign trade hits $1.42tn in 2024 as goods and services boom - Arabian Business: Latest News on the Middle East, Real Esta…
In a global trade environment marked by 2.9 per cent growth in merchandise trade and 6.8
per cent in services trade in 2024, the UAE’s performance underscores its resilience amid

rising tariffs and uncertainties.

Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of

Dubai, said: “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.”

Sheikh Mohammed bin Rashid Al Maktoum highlighted key achievements from the WTO

report:

Foreign trade reached AED5.23tn in 2024, with a trade surplus of AED492.3bn, positioning the UAE

as a driver of international trade
The UAE ranked 11th globally in merchandise exports and 13th in services exports
Services exports totalled AED646.6bn, including AED191bn in digital services, comprising 30 per cent

of service exports
Merchandise exports amounted to AED2.22tn in 2024

The UAE contributed 41.4 per cent of the Middle East’s merchandise exports, solidifying its role as
the region’s primary trade hub

Sheikh Mohammed said: “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.”

The UAE’s exceptional performance, as detailed in the WTO’s report, demonstrates its

economic resilience amid global trade uncertainties.

Comprehensive foreign trade (goods and services) grew by 49 per cent from 2021,
reaching AED5.23tn ($1.424tn) in 2024.

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