UAE’s Foreign Trade Hits Dh5.23 Trillion in 2024, Solidifying Its Global Economic Position

In a major economic milestone, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced that the UAE’s total foreign trade volume reached an impressive Dh5.23 trillion in 2024. This comes with a trade surplus exceeding Dh490 billion, showcasing the country’s strong performance despite global economic challenges.

According to Sheikh Mohammed’s official statement on X (formerly Twitter), the UAE also achieved remarkable progress in service exports, reaching Dh650 billion in 2024. Notably, Dh191 billion of that total came from digital services, which now make up 30% of the UAE’s overall service exports.

When it comes to goods, the UAE exported Dh2.2 trillion worth in 2024—a 6% increase from the previous year. Citing data from the World Trade Organization, Sheikh Mohammed highlighted that the UAE now represents 41% of the Middle East’s total merchandise exports, firmly maintaining its title as the region’s leading trade hub.

Reflecting on this success, Sheikh Mohammed credited the UAE’s long-standing approach of openness and connectivity: “In a world facing major economic and commercial challenges, the UAE chose, from the very beginning, a path of openness—building bridges, and enabling the free movement of trade, capital, and people.”

He further emphasized, “Today, the UAE stands out as a vital bridge between East and West, and a dynamic global economic hub. By the grace of Allah, this journey of progress will continue. Under the leadership of the UAE President, we will preserve these achievements and continue to build upon them.”

With continued commitment to openness, trade liberalization, and international cooperation, the UAE is confidently paving the way for sustained growth and global economic leadership.