The UAE and the US share a vibrant and dynamic trade and investment relationship. Built on shared values and a mutual commitment to economic growth and prosperity, this partnership has flourished over the past few decades.
Since 2009, the UAE has been the number one export market for US goods in the entire Middle East and North Africa (MENA) region.
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The UAE and US signing of the Partnership for Accelerating Clean Energy (PACE), a framework for shared investment, financing and support for clean energy.
Record Trade Figures: In 2023, bilateral trade between the UAE and the US totaled $31.4 billion. The US exported more than $24.8 billion of goods and services to the UAE, marking a 19% increase from 2022. This resulted in an $18.3 billion trade surplus for the US, America’s fourth largest trade surplus globally.
- Nationwide Impact: The UAE trades with all 50 US states, significantly supporting the American economy.
- Job Creation: US trade with UAE supports 166,000 American jobs.
Bilateral Investments
- US Investments in the UAE: American firms continue to invest significantly in the UAE’s key sectors such as energy, aerospace, technology and financial markets.
- UAE Investment in the US: Emirati investments in the US, totaling over $1 trillion, span from real estate to renewable energy, driving economic growth and creating jobs.
Key Sectors of Collaboration
- Renewable Energy: The UAE’s global renewables company Masdar has had a number of partnerships to accelerate clean energy adoption in the United States, including major investment in Texas, New Mexico, and California
- Technology and Innovation: Joint initiatives in AI, cloud computing and supercomputing, such as partnerships between G42 and Microsoft Azure, are driving technological advancements.
- Aviation: Major aircraft orders from Boeing by UAE airlines and collaborations in aviation technology highlight the robust aerospace ties.
- Space Technology: The UAE's partnerships with NASA and other US-based space companies are advancing space exploration and creating new economic opportunities.
This robust trade relationship reflects the success of the UAE’s increasingly diverse economy, with non-oil sectors accounting for more than 70% of the UAE’s GDP. The UAE-US trade and investment partnership continues to be a testament to the strength and potential of international cooperation. For more information on UAE-US trade and investment opportunities, visit here.