Home » News » UAE Industrial Exports Surge 25% to $71.2 Billion | 2024 Record

UAE Industrial Exports Surge 25% to $71.2 Billion | 2024 Record

UAE Industrial Exports Surge to Record Levels, Driven by AI and Diversification

The United Arab Emirates has witnessed a significant surge in industrial exports, reaching a record high of AED 262 billion (approximately $71.2 billion), a 25% increase compared to and more than double the figure recorded since the establishment of the Ministry of Industry and Advanced Technology in . This growth underscores the effectiveness of the UAE’s industrial policies aimed at enhancing the competitiveness of national products and expanding their presence in global markets.

Exports of medium and high-tech industries reached AED 92 billion (approximately $25 billion), representing a 42% annual growth rate. This achievement surpasses the target of AED 90 billion by six years, reflecting an accelerated shift towards advanced manufacturing and technology, and an increase in the added value of national industries.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, stated, “The backbone of any competitive national economy is its industrial base… I am proud of the industrial figures of our national economy… We have achieved a 25% growth compared to the previous year to export more than AED 262 billion worth of industrial products in one year, including AED 90 billion in technology industries… and for the UAE to be the first in the region in industrial exports.”

Sheikh Mohammed added, “The UAE is an industrial giant thanks to the integration of its governmental and legislative sector with its private industrial sector, and with great support from an exceptional digital infrastructure, a strong and robust financial and banking sector… and our figures in will be even better, God willing.”

Driven by the vision of its leadership and through the Ministry of Industry and Advanced Technology, the UAE continues to develop industrial policies and update regulatory frameworks. These efforts aim to enhance confidence among international partners and solidify the country’s position as a regional and global hub for advanced industries and industrial exports, supporting supply chains, promoting local production, and enhancing the export competitiveness of high-quality products. This contributes to establishing a flexible and sustainable production economy that meets future aspirations.

Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, affirmed that this progress is part of the Ministry’s efforts to implement the vision and directives of the leadership to support the growth and competitiveness of the industrial sector and enhance an attractive business environment. He also emphasized the UAE’s commitment to becoming a trusted industrial and commercial partner.

“Through the National Strategy for Industry and Advanced Technology, and the ‘Make it in the Emirates’ initiative as a strategic driver for industrial investment attractiveness, we at the Ministry focus on transforming growth in industrial trade into sustainable value for the national economy,” Dr. Al Jaber explained. “This is achieved by enhancing the competitiveness of advanced and vital industries, expanding the base of industrial and technological exports, integrating supply chains, and achieving self-sufficiency in essential products and materials, alongside supporting the growth of the private industrial sector, to consolidate the UAE’s position as a global center for advanced and future industries.”

The indicators of industrial trade in the country confirm the progress in strengthening the UAE’s position as a global center for trade and industry, and the strength of the national economic system. This is supported by the country’s credibility, its distinguished legal and regulatory investment system, and a safe and stable environment that has enhanced confidence and investment attractiveness, contributing to enabling the industrial sector as one of the main drivers of sustainable economic growth, under the supervision of the Ministry of Industry and Advanced Technology.

These results reflect the direct impact of the integration of the Ministry of Industry and Advanced Technology’s initiatives, most notably “Make it in the Emirates,” which aims to localize strategic, vital, and priority industries in accordance with the objectives of the National Strategy for Industry and Advanced Technology, stimulate quality industrial investment, enhance the capabilities of national factories, and support economic and food security and self-sufficiency.

The In-Country Value (ICV) program, overseen by the Ministry in collaboration with strategic partners, has also contributed by directing spending towards the local economy, enhancing national content in supply chains, and empowering industrial and service companies in the country. This has reflected in increasing the contribution of the industrial sector to the gross domestic product and enhancing the competitiveness of the national economy.

The UAE’s industrial sector contributed $51.7 billion to GDP in , a 62% jump since , as the nation accelerates growth in artificial intelligence (AI) and other emerging sectors. The country now has over 450,000 computer programmers, an increase of 376.9% compared to , and ranks among the world’s top 10 destinations for attracting AI talent.

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