The United Arab Emirates (UAE) has solidified its position as a top global player in commodity trading, retaining its second-place ranking in the Commodity Trade Index featured in the Future of Trade 2024 report by DMCC (Dubai Multi Commodities Centre).

The DMCC Commodity Trade Index 2024 evaluates ten key trading hubs by analyzing three main aspects of commodity trade across ten specific sub-indicators. These indicators reflect locational benefits, the wealth of commodities like coffee, grains, and gold, financial services and logistics infrastructure, and institutional strength, offering a comprehensive view of each hub’s global trade role. The data for these indicators are sourced from global institutions like the World Bank and the United Nations.

In a global environment marked by increased trade regionalization due to geopolitical tensions, economic factors, and supply chain changes, competitive advantages are emerging for trade hubs that leverage political neutrality, geographic location, supply of strategic commodities, and robust trade infrastructure.

The UAE excels in the category of commodity endowment factors, with a score of 77%, leading all other trading hubs, thanks to its abundant oil supply. The country also performed well in institutional factors, scoring 66%, and moved up to fourth place, largely due to its attractive tax rates and strong trade logistics infrastructure. The Index highlighted opportunities for further collaboration and enhancement of trade relations to improve scores for locational and trading partner factors.