Dubai’s non-oil overseas commerce reached 1.182 trillion dirhams in 2020. Its complete commerce quantity in 2020 reached 100 million tons, pushed by 6% year-on-year quantity progress within the second half of the 12 months.
The general worth of exports in 2020 elevated by 8% to 167 billion Dhs, whereas imports amounted to 686 billion Dhs and re-exports totaled 329 billion Dhs.
Dubai’s direct commerce in 2020 amounted to Dhs 711 billion, whereas commerce via free zones reached Dhs 464 billion and customs warehouse commerce was recorded at Dhs 7 billion, reported the official press company. WAM.
Air commerce represented Dhs 559 billion. Maritime commerce reached 421 billion dirhams whereas land commerce reached 203 billion dirhams.
Due to @HHShkMohddirectives, Dubai’s economic system has proven nice agility in overcoming the challenges; in line with new non-oil overseas commerce figures for 2020, which reached AED 1.182 trillion within the second half of the 12 months. pic.twitter.com/y0Oy1mQIQa
– Hamdan bin Mohammed (@HamdanMohammed) April 10, 2021
China remained Dubai’s largest buying and selling companion in 2020 with 142 billion dirhams in commerce.
India got here in second with 89 billion dirhams in commerce, adopted by the USA in third place with 61 billion dirhams.
Saudi Arabia remained Dubai’s largest buying and selling companion within the Gulf and Arab international locations and its fourth largest buying and selling companion on the earth with 54 billion dirhams in commerce, adopted by Iraq in fifth place with 41 billion dirhams.
Gold tops the listing of commodities in Dubai’s overseas commerce in 2020 at Dh 213 billion, adopted by telecommunications at Dh 153 billion. Diamonds got here in third with 64 billion Dha, adopted by petroleum oils with 57 billion Dhs and jewellery at 47 billion Dhs.
“The distinctive progress of the overseas commerce sector in 2020 will enhance the implementation of Dubai’s five-year plan to develop its overseas commerce to 2,000 billion dirhams, thereby consolidating the emirate’s place as a hub of commerce and improvement. main regional and international funding. Dubai’s new worldwide commerce map will see an growth of air and sea delivery routes, with 200 new cities to be added to the emirate’s current community of 400 cities, ”mentioned Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Prince inheritor of Dubai and chairman of the Dubai Govt Council.
Sultan bin Sulayem, Chairman and CEO of DP World Group and Chairman of Ports, Customs and Free Zone Company, added: “With the gradual opening of borders, Dubai’s commerce volumes began to get better and develop quickly within the second half. half of 2020. Within the third quarter, Dubai’s commerce jumped 34% from the second quarter and within the fourth quarter, the commerce elevated by 7% to 326 billion Dhs from the third quarter.
“Commerce volumes within the second half of 2020 elevated by 6% in comparison with the corresponding interval in 2019. In complete, 100 million tonnes of products had been traded in 2020, reflecting the fast restoration of this sector. This rebound will now stimulate progress in 2021. The resumption of commerce with Qatar, the beginning of business engagement with Israel, the optimistic results of internet hosting Expo 2020 and the launch of the Dubai 2040 grasp plan. will all assist to speed up the expansion momentum of the emirate, ”Bin Sulayem famous.
Bin Sulayem additionally mentioned that the latest restructuring of the Dubai Chamber will strengthen assist for the commerce sector by creating new options for the wants of buyers and companies.
Learn: Sheikh Mohammed restructures the federal government of Dubai; approves the five-year overseas commerce plan
Dubai Customs has additionally launched its five-year technique for the interval 2021-2026, which units out 9 objectives and 4 foremost goals within the improvement of customs operations. Dubai Customs has acquired Agile Group certification from the American Enterprise Agility Institute (BAI), turning into the world’s first agile authorities group. As a part of strengthening cooperation with export finance entities, Dubai Customs signed a Memorandum of Understanding with Etihad Export Credit score Insurance coverage Firm (ECI) to facilitate higher export efficiency within the emirate.