In 2023, the UAE's export of "Copper and Articles Thereof" was valued at $3.1721 billion. Analysis of the trend reveals a substantial variation over the years, with peaks and troughs. Significant growth was observed in 2018, with a 72.24% year-on-year increase, reaching $3.1148 billion. Subsequently, the growth saw minor fluctuations, with the most recent year-on-year increase in 2022 and 2023 being 3.28% and 3.11%, respectively.
The last five years (ending in 2023) demonstrate a Compound Annual Growth Rate (CAGR) of approximately 11.21%, indicating consistent growth, even though the year-on-year variations presented some volatility.
For the future, from 2024 through 2028, the forecasted export values suggest a steady increase, with the forecasted 5-year CAGR at 2.3%. Expected export values will surpass $3.6719 billion by 2028. These values highlight a stable growth trajectory, despite a slight deceleration in momentum.
Future trends to watch for include:
- Global demand shifts for copper-driven by infrastructure and technology developments.
- Price volatility in global copper markets impacted by geopolitical tensions and supply chain disruptions.
- Adoption of new technologies and environmental policies that can affect production and export volumes.
