A new achievement that reflects the emirate's economy recovery from the repercussions of "Covid-19"

Dubai's foreign trade grows 10% to 354 billion dirhams in the first quarter of 2021

  • Traders and investors have benefited from Dubai's vital role as an international and regional center for global trade.

    Emirates today

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Dubai recorded a new exceptional achievement that confirms its success in achieving a rapid economic recovery from the consequences of the global crisis represented by the “Covid-19” pandemic, by recording its non-oil foreign trade in the first quarter of 2021 growing by 10%, reaching a value of 354.4 billion dirhams, compared to 323 billion dirhams in the first quarter of 2020.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, said, "His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has laid the foundations of a strong economy, characterized by flexibility and the ability to deal efficiently with The surrounding variables to turn crises into opportunities.

He added: "Dubai has achieved success in managing the crisis caused by the (Covid-19) pandemic, and we have been able to cross again to the path of the upward growth of our foreign trade," stressing that "Dubai's quick and deliberate measures, including economic stimulus packages, continue to prove their feasibility by accelerating recovery rates." .

Exceptional achievement

In detail, Dubai's non-oil foreign trade recorded in the first quarter of 2021 a growth of 10%, reaching 354.4 billion dirhams, compared to 323 billion dirhams in the first quarter of 2020.

Dubai's trade in the first quarter of this year achieved a growth of 5%, compared to the first quarter of 2019, which shows the strength of the recovery in the emirate's trade compared to its value recorded before the pandemic.

Exports recorded a strong growth in the first quarter of 2021, amounting to 25%, to reach 50.5 billion dirhams, while their quantity increased by 20%, reaching a weight of five million tons.

The value of imports increased by 9%, to reach 204.8 billion dirhams, while the value of re-exports increased by 5.5%, to reach 99 billion dirhams.

CHALLENGES AND ACHIEVEMENTS

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, said, "The strong growth of the foreign trade sector shows the extent of Dubai's ability to transform challenges into achievements, by responding quickly to changes in the global economic environment, and dealing with them with high efficiency. In accordance with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and his conviction that the successful management of crises generates opportunities.

His Highness added: "Dubai has achieved success in managing the crisis caused by the (Covid-19) pandemic, and we were able to cross again to the path of the upward growth of our foreign trade, by launching and implementing successive economic stimulus packages, whose value exceeded 7.1 billion dirhams, and paved the way for traders and investors to overcome The difficulties of the crisis, and enabled them to continue to develop their commercial activities, taking advantage of the vital role of Dubai as an international and regional center for global trade.”

His Highness continued: "The growth achieved in the foreign trade sector enhances the sector's ability to achieve the goal of Dubai's five-year plan, by increasing the value of the emirate's foreign trade exchange, so that Dubai culminates in its global leadership in linking international and regional markets through continuous development of infrastructure and logistics services, confirming its worth in this regard. Global standing, by hosting the (International Expo), with wide global participation, in a way that supports the recovery of the global economy, and enables it to progress rapidly towards achieving growth and prosperity again.”

Flexibility and efficiency

In tweets on the blogging site "Twitter", His Highness said: "Dubai's foreign trade grew 10% in the first quarter of 2021 to 354.4 billion dirhams, compared to the same period in 2020, and by 5%, compared to the first quarter of 2019. His Highness Sheikh Mohammed bin Rashid laid the foundations of a strong economy, characterized by flexibility and the ability to deal efficiently with the surrounding variables to turn crises into opportunities.

His Highness continued in another tweet: "Dubai's quick and thoughtful measures, including economic stimulus packages, continue to prove their feasibility by accelerating recovery rates... and the results confirm that we are going beyond the exceptional stage with creative thought and effective alternatives, which have helped to achieve the goals set within various sectors."

Foreign Trade

Dubai’s foreign trade in the first quarter of 2021 was distributed to “direct trade” at a value of 217 billion dirhams, a growth of 15%, compared to the first quarter of 2020, while the value of “free zones trade” amounted to 135 billion dirhams, with a growth of 2%, and the value of “warehouse trade” Customs » 2.3 billion dirhams, a growth of 23%.

first partner

China came in the center of Dubai's first trading partner, as Dubai's trade with China recorded a strong growth of 30%, reaching a value of 44 billion dirhams, followed by India in the position of the second trading partner, with a trade value of 35 billion dirhams, and a growth of 17%.

The United States was the third trading partner, with a trade value of about 15.4 billion dirhams, while Saudi Arabia was the fourth trade partner globally and the first in the Gulf and the Arab world. Trade with the Kingdom recorded a growth of 20%, reaching a value of 14.7 billion dirhams.

Turkey ranked as the fifth trading partner in the world, and trade with it witnessed a strong growth of 72%, reaching a value of 12 billion dirhams.

Hamdan bin Mohammed:

• «Mohammed bin Rashid laid the foundations of a strong economy, characterized by flexibility and the ability to deal efficiently with variables to turn crises into opportunities».

• "Dubai has achieved success in managing the crisis caused by the (Covid-19) pandemic, and we have been able to cross again to the path of the upward growth of our foreign trade."

• "The successive economic stimulus packages, whose value exceeded 7.1 billion dirhams, paved the way for traders and investors to overcome the difficulties of the crisis."

• "Dubai's quick and deliberate measures, including economic stimulus packages, continue to prove their feasibility by accelerating recovery rates."

• “The results confirm that we are going beyond the exceptional stage with creative thought and effective alternatives, which help in achieving the set goals.”

Bin Sulayem: Dubai has benefited from its strong investments in “digitization”

Sultan Ahmed bin Sulayem, Chairman and CEO of DP World Group and Chairman of Ports, Customs and Free Zone Corporation, said that "the continuous development efforts of Dubai's economic capabilities have bore fruit, as the emirate was able to achieve a rapid recovery from the repercussions of the current global crisis, to witness the return of foreign trade to Growth at an increasing pace shows the extent to which Dubai has benefited from its strong investments in information technology and digitization, which enabled it to continue its trade with the world in the most difficult conditions that the global economy experienced during the (Covid-19) pandemic.

He added, "The success of the vaccination campaign with anti-vaccines, launched by the UAE, contributed to enhancing global confidence in the country's ability to deal skillfully with major global crises, which made Dubai the most attractive place to continue business," noting that "the future prospects for the growth of our economy and our trade." During the next stage, it became promising and promising, with international companies heading to enhance the spread of supply and supply chains, through the multiplicity of regional distribution centers, with the aim of avoiding the negative repercussions of global crises, and their negative impact on supply and supply chains, which enables Dubai to benefit strongly from this change. structure in global and regional markets.

"Logistic Passport"

Bin Sulayem continued: “We are progressing to enhance our vital role in linking the east of the world with its west and north and south, through the (Global Logistics Passport), which was launched by Dubai, to facilitate international trade exchange and build a global logistics network, by granting major economic advantages to members of the initiative, which It includes a group of countries essential in global trade, most notably India, Indonesia, Thailand, South Africa, Colombia, and Brazil, in addition to the major international shipping companies that joined the project, to take advantage of the basic advantages provided by the global (logistical passport), which exceed 100 advantages. ».

International Conferences

The President of the Ports, Customs and Free Zone Corporation explained that “Dubai is enhancing its vital role in global trade, through its sponsorship and organization of international conferences to facilitate trade, the most prominent of which is the Fifth International Conference of the Authorized Economic Operator Program, which was organized virtually by the Dubai Customs Department, in coordination with the World Customs Organization and the Federal Authority The customs office, with the participation of 100 speakers, and the attendance of more than 12,000 specialists from 160 countries,” noting that the department will strengthen its international efforts during the next stage, in preparation for the World Expo.

“Logistics Passport” is an initiative to build a global logistics network.

archival

Sultan bin Sulayem:

"The success of the vaccination campaign has strengthened global confidence in the country's ability, and made Dubai the most attractive for business."

By air.. by land.. by sea

Air transported trade witnessed a strong growth of 15%, reaching a value of 179 billion dirhams, while the value of seaborne trade reached 120 billion dirhams, a growth of 3%, and the value of trade transported by land 55.3 billion dirhams, a growth of 7%.

Gold tops 63 billion dirhams

Gold was the most valuable commodity in Dubai's foreign trade, during the first quarter of 2021. Dubai's gold trade recorded a strong growth of 27%, reaching a value of 63 billion dirhams.

In turn, the trade of landline, mobile and smart phones recorded a significant growth of 32%, reaching a value of 50 billion dirhams, then the diamond trade, which achieved a record growth of 61%, reaching a value of 29 billion dirhams, while the jewelry trade recorded a value of 17 billion dirhams. And car trade 14 billion dirhams.

• 32% growth in the trade of landline, mobile and smart phones.

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