1.02 trillion dirhams of Dubai foreign trade in 9 months

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, announced that during the first nine months of this year, non-oil foreign trade achieved strong growth of 6% to total 1.02 trillion dirhams, stressing that His Highness continued to grow And the value of Dubai's foreign trade shows the ability of the national economy to continue to develop at an accelerated pace that establishes for launch in 2020 the "year of preparation for its fifty", to reach new successive summits in the achievements of the experience of economic and social development in the UAE.

A qualitative leap

His Highness said: «We have great confidence in the ability of the foreign trade sector to continue growth during the coming periods, as government work teams continue to develop new projects and initiatives to create a qualitative leap in foreign trade in the forefront (Dubai Silk Line) that crowns Dubai’s role as a regional hub and a major hub for the shipping sector Maritime, air and logistical sector, and supports the emirate's position as a destination and corridor indispensable for regional and international trade, in addition to other projects that we are currently developing to participate effectively in the progress of electronic commerce regionally and globally through the establishment of the first virtual commercial area, which makes us Progress with confidence and steadfastness towards a new start for our pioneering development experience by keeping pace with Dubai hosting Expo 2020 ».

Distinguished

His Highness, the Crown Prince of Dubai, added that "the distinction achieved by Dubai in the level of development of its foreign trade enhances its ability to meet the needs of regional and international markets of various types of goods, which the emirate is keen to provide to its commercial partners within the most developed global markets."

His Highness stressed in a tweet on Twitter, that the number of Dubai's non-oil foreign trade grew by 6%, achieving 1.02 trillion dirhams during the first nine months of 2019; Regionally and globally ».

Re-export

The value of Dubai's foreign trade increased by about 966 billion dirhams, as the value of exports grew by 23% to reach 118 billion dirhams, while the value of re-exports increased by 4% to 312 billion dirhams, and the value of imports increased by 3% to 589 billion dirhams.

Dubai has promoted the rapid growth in its non-oil foreign trade with this new leap in the first nine months of this year in which it recorded a 22% growth in the amount of goods to reach a weight of 83 million tons, compared to 68 million tons during the same period of 2018, where it recorded the size of Re-exports reached a record leap, achieving a growth rate of 48%, bringing the weight of re-exports goods to 13 million tons, the volume of exports jumped 47% to reach the weight of exports goods to 14 million tons, and the volume of imports increased by 13%, bringing the weight of imports goods to 56 million tons.

Quarterly

On a quarterly basis, Dubai's non-oil foreign trade has achieved in terms of constant and sustained quarterly gains in 2019, as the third quarter of this year recorded the highest trade value this year (343 billion dirhams), an increase of 7% on an annual basis, while The second quarter of 2019 increased by 3% (337 billion dirhams), while the first quarter of this year increased by 7% (339 billion dirhams) compared to the same period last year.

partners

China topped the center of the first partner among Dubai’s global trading partners, with Dubai’s trade value with China reaching about 109 billion dirhams, achieving a growth of 6%, which reflects the progress of Dubai’s progress in its international role as a regional and global center for trade with China that enhances the success of the “Belt” project. And the way »to link it to global markets.

India came in the second trading partner center, where the value of Dubai’s trade with it reached about 100 billion dirhams, with a growth of 16%. The United States of America was in the third trading partner center and the value of trade with it reached 57 billion dirhams, then Switzerland was in the fourth trading partner center and the value Trade with it is 47 billion dirhams, then Saudi Arabia is the center of the first trading partner in the Gulf, Arab and fifth globally, and the value of trade with the Kingdom has reached 42 billion dirhams.

Continuous growth

The Chairman of the Board, CEO of Dubai Ports World Group and President of the Ports, Customs and Free Zone Corporation, Sultan Ahmed bin Sulayem, said that “Dubai’s ability to achieve continuous growth shows in its foreign trade the strength and strength of its economy, which is based on the pioneering accomplishments achieved by the emirate in developing Its productive sectors and free zones, while providing the best benefits to investors and global trade.

Bin Salim added: “Dubai Trade is characterized by its flexibility and ability to explore new opportunities through rapid access to new markets and expanding the volume and value of trade with various global markets, thanks to the great confidence that our regional and international trade enjoys, enabling us to advance quickly in our upcoming projects that we will launch In 2020 (the year of its 50th readiness). He stated that the growth in Dubai's foreign trade shows the extent of the emirate’s success in attracting traders and investors from all over the world, as a result of the achievements made in developing the infrastructure and the continuous progress in developing customs services provided by Dubai Customs to customers, which enabled them to achieve a new international achievement in the field of creativity and innovation .

Direct and "free" trade

Dubai foreign trade through the free zones achieved strong growth by 11% to reach 439 billion dirhams, an increase of 45 billion dirhams, reflecting the role of free zones as a destination and a major platform for international trade, while direct trade achieved 2% growth to reach 574 billion dirhams, an increase of 10 Billions of dirhams, while the value of trade in customs warehouses was about six billion dirhams, while the value of land-borne trade amounted to 169 billion dirhams, achieving a growth of 11%. The value of seaborne trade amounted to 381 billion dirhams, a growth of 5%, and the value of airborne trade, 469 billion dirhams, with a growth of 4%.

Gold tops

Gold is the forefront of commodities in Dubai’s foreign trade, as the value of the emirate’s trade in gold reached about 129 billion dirhams, with a growth of 17%. Dubai has established its leadership role in the global markets for smart communications technology, as the value of Dubai’s trade in phones reached 119 billion dirhams with a growth of 7%, followed by jewelry The value of 85 billion dirhams, while the value of trade in oil oils reached 68 billion dirhams, and the value of trade in diamonds 63 billion dirhams, bringing the total value of the trade in gold, jewelry and diamonds to 276 billion dirhams, a growth of 7%.