The UAE’s total foreign trade soared to $1.42tr in 2024, marking a 49% increase from $952.9bn in 2021, according to the latest World Trade Outlook and Statistics report from the WTO.
This significant growth underscores the success of the UAE’s strategic economic vision and reinforces its position as the leading trade hub in the Middle East and Africa. The report also places the UAE among the world’s top 20 global trade centres for goods and services.
In a year where global merchandise trade grew by just 2.9% and services trade by 6.8%, the UAE’s performance stands out as a testament to its resilience and adaptability amid global economic uncertainties and rising tariffs.
The figures reflect the country’s ongoing efforts to diversify its economy, expand trade partnerships, and solidify its role as a key player in international commerce.
Gulf Economist Staff Writer