UAE Ranks Second Globally in DMCC Commodity Trade Index
The UAE’s commodities market is projected to reach a nominal value of USD 123.8 billion by 2024 and USD 141 billion by 2028.
The UAE has solidified its position as the second leading global commodity trading hub according to the DMCC Commodity Trade Index, just behind the United States and surpassing Switzerland.
According to Feryal Ahmadi, COO of Dubai Multi Commodities Centre (DMCC), the UAE's strategic location, world-class infrastructure, and business-friendly policies are key factors attracting global businesses and investors. The UAE’s commodities market is projected to reach a nominal value of USD 123.8 billion by 2024 and USD 141 billion by 2028, with an estimated annual growth rate of 3.31%.
The DMCC Commodity Trade Index, featured in the Future of Trade 2024 report, evaluates 10 major trading hubs based on various aspects of commodity trade, including locational advantages, commodity wealth, financial services, and logistics infrastructure. The UAE excels in commodity endowment factors, particularly its oil supply, and ranks well in institutional factors due to favorable tax rates and robust logistics.
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Jun 14, 2024 -
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