From 2013 to 2023, the import value of copper and articles to the UAE exhibited fluctuations, peaking at $3.4706 billion in 2013 and experiencing a low of $2.1431 billion in 2016. The market rebounded in 2018 with a significant 40.34% increase year-on-year, reaching $3.2728 billion. However, imports have followed a general downward trend since then, tapering off to $2.8489 billion in 2023.
Notable trends include:
- A sharp decline from 2013 to 2016.
- A substantial recovery in 2018, indicated by a 40.34% increase.
- Another decline post-2018, reaching a steady state around 2023.
- A decrease of 0.66% from 2022 to 2023.
Looking forward, the forecast suggests a continued modest decline in the import value, with the value expected to reduce to $2.7495 billion by 2028. The forecast CAGR over the next five years is projected to be -0.56%, indicating a slight but steady decline.
Future trends to watch for include potential shifts in global copper supply and demand dynamics, advancements in copper recycling technologies, and the impact of geopolitical factors on trade flows.
