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Trade Balance of Goods in United Arab Emirates: Overview from 2017 to 2023

Trade Balance of Goods in United Arab Emirates: Overview from 2017 to 2023

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TGM StatBox. (2024). Trade Balance of Goods in United Arab Emirates: Overview from 2017 to 2023. TGM StatBox.
Chart Details
Data Source: Calculate based World Trade Organization (WTO)'s data (export - import)
Timeframe: 2017-2023
Country: UAE
Published date: 2024
Note: The trade balance reflects the difference between the value of a country’s exports and imports of goods. This figure was calculated by TGM StatBox, using data from the World Trade Organization (WTO). A positive balance signals a surplus, while a negative one indicates a deficit.
Key Takeaways
The UAE consistently posted trade surpluses from 2017 to 2023, supported by its oil exports and diversified economy. The surplus peaked at 143,276.4 million USD in 2018, reflecting high oil prices and robust non-oil export growth. However, it declined to 39,090 million USD in 2023, driven by moderating oil prices and higher imports tied to infrastructure investments and domestic consumption.

The UAE’s trade performance reflects its ability to leverage hydrocarbons while expanding non-oil exports, including gold, electronics, and machinery. The decline in the 2023 surplus highlights its sensitivity to global energy market trends despite diversification efforts.

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