UAE foreign trade surges to Dh5.23 trillion in 2024

Dubai: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has announced that the UAE's foreign trade volume reached Dh5.23 trillion in 2024, with a trade surplus exceeding Dh490 billion.

On his X official account, Sheikh Mohammed also revealed that in 2024, the UAE exported services worth Dh 650 billion, including Dh191 billion in digital services, which accounted for 30% of total service exports.

Citing the latest data from the World Trade Organization, Sheikh Mohammed added that the UAE exported goods worth Dh2.2 trillion in 2024, representing a 6 percent increase over the previous year. The UAE now accounts for 41 percent of the Middle East’s total merchandise exports, reaffirming its position as the region’s leading trading hub.

“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,” Sheikh Mohammed wrote.

“Today, the UAE stands out as a vital bridge between East and West, and a dynamic global economic hub,” he added. “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 our steadfast commitment to openness, trade liberalization, and bridge-building, we are confident that growth and leadership will remain firmly within our reach,” he said.