Money & BusinessUAE

UAE retail sales to hit $58 billion in 2021

Retail sales in the UAE are expected to rebound and grow by 13 per cent to reach $58 billion by the end of 2021, Dubai Chamber of Commerce and Industry said.

The surge in sales will be supported by pent up consumer demand in the second half of the year, Covid-19 vaccination efforts and Expo 2020 Dubai, Dubai Chamber said in a report.

The analysis, based on recent data from Euromonitor, predicted that UAE retail sales are forecast to maintain 6.6 per cent annual growth in the medium term to reach $70.5 billion by 2025, with store-based retailing growth forecast at a CAGR of 5.7 per cent, while non-store retailing is forecast to grow at a CAGR of 14.8 per cent.


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