The United Arab Emirates (UAE) has strengthened its position as a regional economic powerhouse and a key player in global trade, according to the latest international shipping and cargo handling data. This remarkable growth in international trade, particularly in large economies, underlines the UAE's growing importance as a strategic export hub.
Ports along the Persian Gulf coast have been instrumental in this evolution. They have achieved significant and record-breaking advances that have driven the country's commercial and economic renaissance, consolidating its role as a strategic player and engine of global trade.
According to Al Arab, these hubs of international and regional trade have become key points for the UAE's economic growth and revenue diversification. They actively compete with other major trade routes in the Gulf region, such as Saudi Arabia and the Sultanate of Oman, despite tensions in the Red Sea.
The UAE's maritime sector has been crucial to its ambition to become a global leader in shipping. Global challenges have affected trade and shipping operations, yet the UAE has maintained steady growth in its maritime sector, ranging from port operations to shipyard construction and maintenance; meeting high international standards of maritime safety and environmental protection.
In April this year, Prime Minister Mohammed bin Rashid Al Maktoum noted that the country's total foreign trade reached an all-time high of approximately Dh4.4 trillion ($1.2 trillion) last year. He further mentioned that the country's services exports reached $164.9bn in 2023, up from $155.1bn the previous year, with more than Dh46.2bn coming from digital services exports.
In addition, the UAE has one of the most robust maritime networks in the region, connecting its ports to the rest of the world. These include the ports of Abu Dhabi and Dubai, as well as major ports in Fujairah and Sharjah. In total, the country has 12 commercial ports and 310 seaports, with a capacity to handle 80 million tonnes of goods.
Moreover, a report by the United Nations Conference on Trade and Development (UNCTAD) ranks the UAE fourth globally among the 30 best performing economies in speed of ship handling and shipping via dry bulk carriers. In addition, the country ranks sixth in the Cargo and Vessel Handling Performance Index for tankers.
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