UAE Industrial Exports See Dhs70 Billion Surge

The United Arab Emirates (UAE) has witnessed a significant surge in the value of its industrial exports over the past three years, according to the Ministry of Industry and Advanced Technology (MoIAT). In a recent statement, Dr. Sultan bin Ahmed Al Jaber, the Minister, highlighted a remarkable Dhs70 billion (US$19 billion) increase, showcasing the substantial progress made by the ministry since its establishment.

This impressive growth trajectory reflects a 60% rise in industrial exports, with projections indicating a value of Dhs187 billion (US$51 billion) in 2023 compared to Dhs117 billion (US$32 billion) in 2020. This surge is attributed to MoIAT's targeted initiatives aimed at bolstering the nation's industrial sector and fostering a robust manufacturing environment.

A key focus of the ministry's strategy has been on enhancing "in-country value," which emphasizes maximizing the use of domestic resources and capabilities within the industrial sector. This approach not only strengthens the UAE's self-sufficiency but also bolsters its supply chain resilience and overall economic competitiveness on the global stage.

The positive impact extends beyond export figures. Industrial productivity within the UAE has also witnessed a substantial rise of 18% since 2020. This upswing signifies an increase in the sector's output and efficiency, further solidifying the UAE's position as a prominent industrial player.

MoIAT's commitment to propelling the nation's industrial prowess is further underscored by its achievements in the high-tech arena. Through strategic financing solutions amounting to Dhs1.5 billion (US$408 million) in 2023, the ministry has effectively stimulated growth in this critical domain. Consequently, exports of high-tech products have witnessed a notable uptick, climbing from Dhs2.9 billion (US$793 million) in 2020 to Dhs3.5 billion (US$953 million) in 2023.

The ministry's dedication extends beyond financial support. MoIAT has implemented a series of comprehensive programs and initiatives designed to foster innovation, attract foreign direct investment, and cultivate a skilled workforce within the industrial sector. These combined efforts have demonstrably propelled the UAE's industrial sector to new heights.

Dr. Al Jaber's statement also highlighted the UAE's impressive ascent in the United Nations Industrial Development Organization's (UNIDO) Competitive Industrial Performance (CIP) Index. The nation secured the top spot regionally and a commendable 29th position globally in 2023, marking a significant improvement of seven places since 2020. This recognition serves as a testament to the UAE's unwavering commitment to industrial development and its emergence as a major force in the global industrial landscape.

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