How big is the UAE market?

The United Arab Emirates is a high-income developing market economy. The UAE's economy is the 2nd largest in the Middle East (after Saudi Arabia), with a gross domestic product (GDP) of US$415 billion (AED 1.83 trillion) in 2021-2023. $509.18 billion (nominal; 2023 est.) $895.17 billion (PPP; 2023 est.)

What is the market size of UAE?

United Arab Emirates (UAE) Retail Market Report Overview

The UAE retail market size was AED 306.6 billion in 2022. The market is expected to grow at a CAGR of more than 5% during 2022-2027.

How big is the retail market in the UAE?

In 2021, country-wise retail sales in United Arab Emirates were estimated at around 74 billion U.S. dollars. In 2026, the volume of retail sales was forecasted to reach approximately 114 billion U.S. dollars.

How big is the UAE digital market?

Digital commerce in the United Arab Emirates (UAE) is sized at USD 5.7 billion in 2022, according to the Dubai Chamber of Commerce, and it is expected to grow at the annual rate (CAGR) of 12.6%.

How big is the online market in the UAE?

The United Arab Emirates is the 46th largest market for eCommerce with a predicted revenue of US$5,858.7 million by 2023, placing it ahead of Singapore. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 4.0%, resulting in a projected market volume of US$6,854.2 million by 2027.

Qatar vs UAE - Country Comparison

Which country has the largest online market?

China. One of the most influential factors in the world economy is the e-commerce sector, and China is the undisputed leader in this field. With a total online sales volume of $1,538 billion in 2022, China holds 26.07% of the global e-commerce market share, far ahead of any other country.

Why is UAE a good market?

The UAE has a dynamic economy, which is diversifying quickly as it aims to transform itself into a knowledge economy. The UAE's openness to international business and strategic location as a gateway to the region create business opportunities and make the UAE an attractive market for U.S. exporters.

How many people buy online in UAE?

According to the 2023 Global Shopping Index: UAE Edition released by PYMNTS and Visa Cybersource, 94 per cent of UAE's 3.1 million adult shoppers used at least one digital shopping feature during their most recent retail shopping journey.

What is the largest marketplace in the UAE?

Question: Which is the top Marketplace website in United Arab Emirates? Answer: amazon.ae is the most popular Marketplace website in United Arab Emirates in December 2023.

How much of the GDP is the UAE digital economy?

The 'UAE Digital Economy Strategy' aimed to increase the digital economy's share in the UAE's GDP from 9.7% as of 2022 to 19.4% over a decade.

How big is the UAE FMCG market?

The UAE FMCG market is worth approximately $38 billion and is expected to grow at a CAGR of 5% over the next five years.

Which industry is more in UAE?

The oil and gas industry has been the backbone of the UAE's economy for decades. The country is one of the world's largest oil producers and exporters, with abundant reserves. The sector continues to play a vital role in generating revenue and supporting infrastructure development.

How big is Dubai shopping Centre?

Dubai Mall near the fountain at dusk. Second largest mall in the world by the total land area of 1,124,000 m² (12,100,000 sq ft). 20th-largest mall by Gross Leasable Area (GLA) of 350,000 m² (3,800,000 sq ft).

Where does UAE get its money?

The UAE is the third-richest country in the world, below Luxembourg at number two and Qatar at number one, with a GDP per capita of $57,744. The bulk of its money comes from the production of goods and provision of services related to petroleum, petrochemicals, aluminium and cement.

Is the UAE a market economy?

United Arab Emirates has an open market economy in which the prices of goods and services are determined by a free price system.

How many markets are there in UAE?

Stock Markets

The UAE hosts three stock exchanges: Nasdaq Dubai, Abu Dhabi Securities Exchange and Dubai Financial Market.

What does UAE trade the most?

Yearly Trade

The most recent exports are led by Crude Petroleum ($58.5B), Refined Petroleum ($42.5B), Gold ($32.8B), Broadcasting Equipment ($16.5B), and Diamonds ($13.6B).

Who is the biggest investor in UAE?

The main investors are the United Kingdom, India, the United States, France and Saudi Arabia. According to Investment Monitor, in 2021, Dubai ranked first globally in terms of number of FDI projects, recording 441 projects, an 87% increase year-on-year.

Is Shopify successful in UAE?

Shopify Growth in United Arab Emirates

Shopify's worldwide quarter-over-quarter growth has been quite impressive over the last few years, and that trend is visible within most countries. Shopify stores in United Arab Emirates increased 15.0% quarter-over-quarter in 2023 Q4.

What is the UAE eCommerce strategy?

The Dubai government has launched the Dubai eCommerce strategy, which aims to increase foreign direct investment in the eCommerce industry while expanding the market share of Dubai-based enterprises in local and regional distribution.

Do people in the UAE shop online?

Consumers in the UAE choose online shopping – whether for food and groceries or fashion – due to its convenience. E-commerce categories' growth varies according to the current climate.

Why is UAE booming?

Diversification: The Name of the Game

While oil and gas remain significant sectors, the country is diversifying its economy at a rapid pace. Tourism, renewable energy, and technology are some of the industries that the UAE is keen on developing, offering a wide array of opportunities for investors.

Which product is highly demanded in Dubai?

Fashion and beauty products encompass a wide range of items including clothing, accessories, makeup, skincare, and haircare products. These trending products are always in high demand as individuals express their personal style and take care of their appearance.