UAE – Mubasher: The non-oil foreign trade of Dubai grew by 6% to AED 1.371 trillion in 2019 from AED 1.299 trillion in 2018.
The value of Dubai’s exports saw a 22% hike last year to AED 155 billion, while re-exports registered a 4% increase to AED 420 billion, and imports rose by 3% to AED 796 billion, according to Dubai Customs.
Meanwhile, the volume of the emirate’s non-oil foreign trade jumped by 19% to around 109 million tonnes in 2019, compared to 91 million tonnes in the previous year.
In terms of volume, Dubai’s exports soared by 45% to 19 million tonnes last year, while re-exports climbed by 48% to 17 million tonnes, and imports grew by 9% to 72 million tonnes.
Over the last decade, the agility and flexibility of Dubai’s external trade sector resulted in a 52% rise in the value of external trade.
Commenting on the strong performance, Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and chairman of the Executive Council, said: “Dubai’s external trade has contributed significantly to the emirate’s economic achievements, further raising its status as a global hub for trade, business, and tourism, giving it a solid platform for growth in the next 50 years.”
Dubai’s foreign trade out of free zones hit AED 592 billion in 2019, with an 11% year-on-year increase, while the direct trade reported a 2% rise to AED 770 billion.
In this regard, DP World Group chairman as well as CEO and chairman of Ports, Customs and Free Zone Corporation, Sultan bin Sulayem, remarked: “Free zones in Dubai are a key factor behind the emirate’s trade success. The sophisticated infrastructure of our free zones, especially Jebel Ali Free Zone (JAFZA), has helped businesses benefit from different incentives and facilities, and attracted more foreign investments over the years.”
Globally, China was Dubai’s largest trading partner with AED 150 billion, followed by India with AED 135 billion and the US with AED 77.7 billion.
At the same time, Saudi Arabia is Dubai’s largest Arab trade partner and the fifth globally, with AED 56 billion.
