Key Market Indicators
The export of nickel from the United Arab Emirates is projected to reach approximately $140 million by 2028, up from $118 million in 2023. This marks an average annual growth rate of 2.6%. Notably, since 2012, the Emirati nickel supply has seen a year-on-year increase of 3.6%. In the global rankings for 2023, the UAE held the 26th position, having been surpassed by South Korea, which matched the UAE's $118 million in nickel exports. The leading countries in this sector were Canada, Russia, and Malaysia, ranking second, third, and fourth respectively. On the import front, the UAE's nickel imports are forecasted to decrease to around $74 million by 2028, down from $102 million in 2023. This decline represents an average annual reduction of 5.1%. Since 2012, the demand for nickel in the UAE has been on a downward trend, falling by 3.8% year on year.
