The UAE recorded Dh5.23 trillion ($1.424 trillion) in total foreign trade in 2024, a 49% increase from Dh3.5 trillion ($949 billion) in 2021, according to the World Trade Organization’s latest trade outlook report.
The UAE ranked 11th globally in merchandise exports and 13th in services exports. Goods exports totalled Dh2.22 trillion ($603 billion), while services exports reached Dh646.6 billion ($176 billion), including Dh191 billion ($52 billion) in digital services. Services accounted for 20% of the UAE’s foreign trade and 30% of its service exports.
Digital services exports increased from $48 billion in 2023 to $52 billion in 2024, placing the UAE 21st globally. Imports of digital services were valued at $42 billion, also ranked 21st.
Total trade in services reached Dh1.03 trillion ($282 billion), with information, tourism, computer, financial, and transport services all registering annual growth rates between 8% and 14%. Services accounted for 26.4% of global trade in 2024, the highest level since 2005.
The UAE’s trade surplus in 2024 stood at Dh492.3 billion ($134 billion), with total exports valued at Dh2.861 trillion and imports at Dh2.369 trillion. Non-oil foreign trade grew to Dh3 trillion, a 14.6% increase from 2023. Exports to CEPA partner countries rose by 42.3%, making up about a quarter of total non-oil exports.
The UAE contributed 41.4% of the Middle East’s $1.5 trillion in merchandise exports 2024. Regional exports grew by 3.7%, and services exports by 4.1%.
Between 2021 and 2024, the UAE rose from 17th to 11th in merchandise exports and from 18th to 13th in services exports. It contributed 2.5% to global merchandise exports and 2% to global services exports.
By sector, growth in merchandise exports in 2024 was led by office equipment and telecoms (10%), electronics (6%), agriculture, food and clothing (3%), industrial goods (2%), and chemicals and textiles (1%). Declines were recorded in fuel and mining (-7%), iron and steel (-6%), and automobiles (-1%).
The WTO expects global goods trade to contract by 0.2% in 2025 before rebounding by 2.5% in 2026. Services trade is forecast to grow by 4% in 2025 and 4.1% in 2026.
The UAE’s performance aligns with its strategy to diversify the economy through trade liberalisation and digital integration. The country contributed to a 1.6% regional GDP increase in 2024. Regional GDP growth is projected at 3.2% in 2025 and 3.5% in 2026.
The UAE’s foreign trade gains are supported by infrastructure investment, economic partnerships, and regulatory frameworks that aim to maintain the country’s position in global trade networks.
