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Land-line and mobile connections increase in H1 2024

by THEFUTURE.TEAM

September 25, 2024

The Office of the Commissioner for Electronic Communications and Postal Regulation (OCECPR) recorded increases in fixed telephony connections, fixed broadband access, the number of mobile users and fixed and mobile data volumes, according to the statistics for the Electronic Communications Market with data up to June 2024.

As stated in a press release issued by the Office, in terms of fixed telephony and broadband access during the first half of 2024 there was a slight increase in total fixed telephony connections, with 4,019 new connections compared to the second half of 2023.

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It is added that Fiber Optic connections have continued their upward trend, with fiber optic networks now being the main fixed line connection covering 72.9% of the market.

It is added that fixed broadband access showed a slight increase of 2,580 subscribers or 0.7% compared to the second half of 2023, with a particularly significant increase (+6%) in connections with speeds ≥100Mbps, due to the expansion of high-capacity networks and free access speed upgrades. At the same time, the share of subscribers with speeds above 1Gbps increased by 0.5% to 3.3%.

The average data volume per fixed line in Q2 2024 was 1.04 TB, continuing its upward trend, while the total data volume for the first half of 2024 increased by 7.3% compared to the second half of 2023.

In mobile telephony, according to the data, the first half of 2024 saw an increase of 32,858 users compared to the second half of 2023, with the contract subscription rate showing an increase of 1.1% and contracts offering unlimited data, voice and SMS making up 57.1% of total contracts.

It is added that the ratio of mobile users to the population of the Republic of Cyprus increased by 3.6%, reaching 158.8%, an increase attributable to contract subscriptions, as prepaid users decreased by 6,032 in the same period. Total data volume for the first half of 2024 increased by 17.9% compared to the second half of 2023, reaching 116,610 TB, surpassing the 100,000 TB mark for the first time in six months.

Moreover, total data volume (fixed and mobile) during the first half of 2024 showed an increase of 67,644 TB (+8.6%) compared to the second half of 2023, while the percentage of data via fixed broadband access fell below 90%, reaching 85.81% in Q2 2024, due to the increase in mobile contracts with unlimited data, a trend that is expected to continue, the press release concluded.

UAE’s Foreign Trade Hits Record $820 Billion In 2024, Fueled By Strategic Deals

by THEFUTURE.TEAM

February 5, 2025

In 2024, the UAE’s foreign trade reached a historic $820 billion (AED 3 trillion), marking a significant achievement for the nation. This milestone was driven by a rise in international trade agreements, with Dubai’s ruler, Sheikh Mohammed bin Rashid Al Maktoum, highlighting the pivotal role these partnerships played in the country’s economic growth.

Strong Trade Growth

The UAE’s foreign trade saw a robust 14.6% year-on-year growth in 2024, a stark contrast to global trade growth of just 2%. Sheikh Mohammed credited the nation’s ongoing efforts to strengthen economic ties globally, with a particular emphasis on the role of UAE President Sheikh Mohammed bin Zayed Al Nahyan, who has worked tirelessly to cultivate stronger international relationships.

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The Impact Of CEPAs

A key contributor to the UAE’s foreign trade success is the implementation of Comprehensive Economic Partnership Agreements (CEPAs). These agreements, spearheaded by Sheikh Mohammed bin Zayed, added an impressive $36.8 billion (AED 135 billion) to the UAE’s non-oil trade in 2024, marking a 42% increase from the previous year. These agreements are helping to cement the UAE’s position as a global trade hub.

Achieving Ambitious Goals Early

In 2021, the UAE set an ambitious target of reaching $1.1 trillion (AED 4 trillion) in foreign trade by 2031. By the end of 2024, the country had already achieved 75% of this goal, putting it on track to surpass this target well ahead of schedule. This rapid progress reflects the UAE’s strong economic vision and strategic focus on progress over politics.

Exports Surge

The UAE’s exports also saw a significant jump in 2024, rising 32% between January and October compared to the same period in 2023. This performance highlights the strength of the country’s industrial strategy and its growing global market access.

Outlook for 2025

The UAE’s economic outlook remains strong, with the International Monetary Fund (IMF) forecasting 4% growth in 2025, driven by non-oil sectors such as tourism, construction, and financial services.

In conclusion, the UAE’s record-breaking trade figures are a testament to its effective economic strategies and its growing influence in global markets.