UAE ranks 11th among world merchandise exporters, says Vice President

DUBAI: The value of trade in goods and services in the UAE will reach US$1.27 trillion in 2022, with a surplus of US$233 billion, said His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

The Vice President said that the UAE exported goods worth US$599 billion to the world last year, accounting for 2.4 percent of the world’s total merchandise exports.

“According to the World Trade Organization, the UAE traded goods and services at $1.27 trillion in 2022, with a surplus of $233 billion. 2023 is next year better, bigger and greater. We are an economic nation… …Our national priority is the economy … Our relationships with nations will continue to be based on growing our economies with our peoples.”

Sheikh Mohammed shared the WTO report on Twitter, saying, “In a new WTO report, the UAE contributed 2.4% of world merchandise exports as it exported 5,990 USD worth of goods to the world in 2022.” 100 million US dollars worth of goods, with an increase of 41% over the previous year, ranking 11th in the world among the world’s bulk commodity exporters.”

Global trade growth is expected to remain below average in 2023, according to recent WTO forecasts, despite a slight upward revision to GDP forecasts since last fall.