Dubai has been able to contain the impact of the global economic slowdown caused by the emerging Corona pandemic "Covid 19" and its negative repercussions on the movement of international trade. Non-oil foreign affairs in the first quarter of the year, about 323 billion dirhams, and during this period, Dubai achieved 2% growth in exports compared to the same period in 2019, bringing the value of Dubai's exports in the first quarter of 2020 to 43 billion dirhams, while the value of imports 189 billion d They re-export value of AED 92 billion.

The volume of Dubai's foreign trade in the amount of goods reached 24 million tons distributed to 16 million tons of imports and 4.2 million tons of exports, and the share of re-exports was 3.6 million tons.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, said: "The strong performance of the foreign trade sector in the first quarter of this year shows Dubai's ability to absorb the shocks currently facing the global economy as a result of the Corona pandemic and its negative repercussions on commercial and economic movement. In most countries of the world, as Dubai’s foreign trade managed to provide the same strong performance thanks to the diversity of its markets and its ability to meet the emerging global needs in light of the spread of this epidemic. The rational leadership directives were to develop the infrastructure and invest in the capabilities and technology systems The Emirate of Dubai has a great impact from an early age in enhancing our ability to deal with crises and transforming the challenges resulting therefrom into opportunities and accomplishments. For this, we were able to respond quickly to developments in the global economic environment so that Dubai strengthens its role on the international scene as a major economic and commercial center linking the most important markets in Various continents supported by an advanced electronic customs system to facilitate trade movement.

His Highness stated, “We are keen to support the ability of all economic sectors to face the repercussions of the global economic crisis of the Corona pandemic through stimulus packages launched by the Dubai government under the guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him. , Which included several initiatives to support the foreign trade sector. "

His Highness added: "We look to the future with great confidence and firm determination to overcome the challenges of the current stage, God willing, and take advantage of its new opportunities to move forward in the implementation of our strategic plans and achieve our ambitious goals so that the UAE remains a leading global experience in success and achievement that guides the countries of the world to build a prosperous future."

Motivational packages

The incentive packages launched by the Dubai government to support the foreign trade sector included the return of 20% of the 5% customs tariff paid for imported goods sold locally, the cancellation of a bank or cash guarantee for the practice of customs clearance activity, and the granting of discounts and exemptions from fees on a number of services provided to the foreign trade sector, To enable the sector to play its vital role in overcoming the repercussions of the current global economic crisis and to advance with confidence and steadfastness to enhance the path of sustainable economic development in the UAE.

Dubai's foreign trade was distributed in the first quarter of the year 2020 to: direct trade with a value of 188 billion dirhams, free trade in value of 133 billion dirhams, and trade from customs warehouses with two billion dirhams.

The value of foreign trade transported by land was four billion dirhams, while the value of seaborne trade amounted to 116 billion dirhams, and the value of airborne foreign trade amounted to 163 billion dirhams.

Chairman of the Board and CEO of Dubai Ports World Group and President of Ports and Customs and Free Zone Corporation Sultan Ahmed bin Sulayem said: “Dubai is proving through the outstanding performance of the foreign trade sector its ability to adapt to sudden international developments. Despite the great impact of the Corona pandemic on the movement of the global economy, Dubai has succeeded By maintaining a high level of the amount and value of foreign trade, the emirate has played a vital role in enhancing the international ability to face the crisis in the supply and distribution chains as a result of the precautionary measures implemented by most of the world to reduce the outbreak of the epidemic. , And was able to maintain its unique ability to link the world's markets to curb the repercussions of this crisis on international trade levels. "

He added: "Dubai Customs is keen to perform its vital tasks in the service of society, the national economy and border protection in all circumstances, whatever the challenges, and in keeping with the outstanding performance of the foreign trade sector, the department achieved in the first quarter of 2020 an exceptional leap in the number of completed customs transactions with an increase of 60% to reach To four million transactions compared to 2.5 million transactions for the same period of last year 2019, which shows the ability to respond quickly and with high efficiency to the emerging requirements that customers need to complete their customs transactions without delay to enable them to save costs under the circumstances Mieh without compromising the quality of services provided and which are on the clock. The Dubai Customs was quick to immediate implementation of the initiatives launched by the Dubai government to support the foreign trade sector within the economic stimulus packages, to enable traders to benefit directly from these initiatives to enhance their ability to face the current challenges. "

He continued, "The department continued its international activity to develop customs work throughout the world, as the World Customs Organization approved the initiative of Dubai Customs to establish a global platform that includes best practices and mutual recognition agreements for members of the approved economic operator program, and the department will lead through this platform international efforts to facilitate the exchange of safe data Between the World Customs Organization and its member customs departments, which contributes to the continuous improvement of the program. "

Sultan bin Sulayem explained that Dubai Customs is keen to play its vital role in protecting the health, safety and security of society, as customs inspection officers advance in the first line of defense equipped with all means of protection from protective clothing, gloves and masks, and are protected by the safe customs inspector corridor launched by the department to maintain Health and safety of employees and their sterilization in their workplaces, and they work closely with all government agencies to ensure the continued flow of goods of the highest levels of safety and health safety to local, regional and global markets, all employees in Dubai Customs support them through the remote work system from the Inn applied by the department to implement the precautionary measures taken by the UAE to protect society from which B Corona.

Market diversification

Dubai maintained diversity in its foreign trade markets, as China came as Dubai’s first trading partner globally in the first quarter of 2020 and the value of trade with it reached 35.8 billion dirhams, followed by India in second place globally with trade worth 30.4 billion dirhams, then the United States of America as the third trading partner Dubai globally with a trade worth 19.5 billion dirhams.

The trade in precious metals and precious stones came in the first place among the most valuable goods in Dubai's foreign trade, as the trade in gold, diamonds and jewelry achieved in the first quarter of 2020 a growth of 2% compared to the first quarter of 2019 to reach a value of 92 billion dirhams, followed by trade in smart phones and land In second place with a value of 38 billion dirhams, then oil oils In third place with a value of 16 billion dirhams.

Follow our latest local and sports news and the latest political and economic developments via Google news