Israel-UAE trade to hit $3.3B in 2024 as wars in Lebanon, Gaza continue
Despite a growing Arab public backlash against economic ties with Israel, and politically strained ties between the UAE and Israel since the Gaza war, bilateral trade has continued across the technology, tourism and agriculture sectors.
DUBAI — Bilateral trade between Israel and the United Arab Emirates could reach $3.3 billion in 2024 despite the ongoing conflict in Gaza and attacks on Red Sea transit routes by Houthis in Yemen, according to a senior Israeli diplomatic source.
The volume of trade could reach its highest level yet, the source told Al-Monitor on condition of anonymity, increasing by 12% this year "if trade ties continue along the same trajectory."
Seventy-five percent of the current trade volume consists of Israeli imports, with the remaining comprised of exports. The figures exclude technology and cybersecurity, which, if included, would account for 48% of Israeli exports to the Emirates and 52% of Israeli imports by the UAE, according to the Israeli source.
Israel's Finance Ministry was not available for comment.
