After Dubai's foreign trade achieved a record growth of 31% to 722 billion dirhams in the first half

Hamdan bin Mohammed: We look to the future with great optimism and confidence... and the consolidation of Dubai as a major center for global trade

  • Exports achieved a remarkable growth of 45% to reach 109.8 billion dirhams.

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The value of Dubai's non-oil foreign trade recorded a record growth during the first half of this year by 31% to 722.3 billion dirhams, compared to 550.6 billion dirhams for the same period in 2020.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, considered the record growth of Dubai's trade an achievement in light of the commitment to the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to increase Dubai's foreign trade To two trillion dirhams, over the next five years, the consolidation of Dubai's current trade links, and the addition of 200 new cities to the network of trading partners around the world.

His Highness said: "We look to the future with great optimism and confidence, as we continue to consolidate Dubai's position as a major center for global trade."

development process

In detail, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, stressed that the development process is proceeding according to its strategic goals, towards consolidating Dubai's position as the global capital of the economy, with interest in enhancing the efficiency of the performance of various key sectors, foremost of which is The trade sector, which represents a major tributary of Dubai's economy, stems from a long history in which the emirate confirmed its position as a pivotal center for global trade.

His Highness said: "Despite the exceptional circumstance the world is witnessing, and the accompanying measures that affected most of the economies of its countries, east and west, Dubai's trade recorded record growth during the first half of this year... an achievement that was achieved in light of the commitment to the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to increase Dubai’s foreign trade to two trillion dirhams, during the next five years, and to strengthen our current trade ties, and add 200 new cities to our network of trading partners around the world.

His Highness directed the Crown Prince of Dubai to continue working to achieve the ambitious goals set within the new Dubai trade plan, and His Highness said: "We look to the future with great optimism and confidence, as we continue to consolidate Dubai's position as a major center for global trade," pointing out that effective digital services, and the potential Strong logistics, and operating systems with the highest levels of efficiency, are elements that bode well for further growth, and confirm Dubai's role as a vital bridge linking world trade, east and west.

Dubai trade

The value of Dubai's non-oil foreign trade recorded a record growth of 31% to 722.3 billion dirhams, during the first half of this year, compared to 550.6 billion dirhams for the same period in 2020, also exceeding the results of the first half of 2019 that recorded 676 billion dirhams. It heralds a new strong start for the foreign trade sector in Dubai, in the post-Covid-19 pandemic.

Exports witnessed a remarkable growth of 45%, to reach 109.8 billion dirhams, compared to 75.8 billion dirhams, while imports rose by 29.3% to 414 billion dirhams, compared to 320 billion dirhams, and re-exports recorded a growth of 28.3% to 198.6 billion dirhams. Compared to 154.79 billion dirhams.

In terms of quantity, Dubai's non-oil foreign trade volume increased in the first half of this year by 10%, reaching about 48 million tons, compared to 43.7 million tons in the same period of 2020.

The volume of exports recorded a record jump, as their quantity rose by 30.8% to 10.1 million tons. The volume of re-exports also achieved a strong growth of 10.6%, reaching seven million tons, while the volume of imports rose by 4.25% to reach 31 million tons.

Challenges and opportunities

In addition, Sultan Ahmed bin Sulayem, Chairman and CEO of DP World Group and Chairman of the Ports, Customs and Free Zone Corporation, said that the growth confirms the ability of the Emirate of Dubai to transform challenges into opportunities, according to well-thought-out plans, a solid economic base, and flexible procedures.

Bin Sulayem noted Dubai's steady progress to increase the value of its trade with the world, upgrade the commercial sector, to be one of the main levers of the national economy, actively contribute to stimulating Dubai's foreign trade and expand its scope, and support the interests of regional and international companies based in Dubai.

Bin Sulayem stressed that the Global Logistics Passport continues Dubai's initiative to facilitate international trade exchange, build a global logistics network, and expand the base of international participants to benefit from the advantages offered by the passport.

He added, "We are pleased to have 10 new countries join the initiative program, which includes airport authorities, port operators, freight agents, and others, which helps make supply chains around the world more efficient, and enables members to achieve an annual increase of between 5 and 10 percent," stressing that This initiative puts Dubai at the forefront of future trade and logistical transformations, and supports its global competitiveness.

Added Value

For his part, CEO of Ports, Customs and Free Zone Corporation and Director General of Dubai Customs, Ahmed Mahboob Musabih, said: “We work at (Dubai Customs) based on our slogan, the gateway to Dubai’s prosperity, which prompts us continuously to invest in advanced technologies to provide The best smart customs services at the global level, which primarily aim to achieve added value for customers, for choosing Dubai as a destination for their operations, by accelerating and facilitating transactions and automating customs procedures, which reduces operating costs, and thus increases revenues.

He pointed out that Dubai Customs' advanced systems completed 12.7 million customs declarations in eight months, at a rate of 55 thousand declarations per day. In the first half of this year, customs transactions recorded a strong growth of 53.4% ​​to reach 11.2 million transactions.

Big Five

China was Dubai's first global trading partner, with a trade exchange value of 86.7 billion dirhams, compared to 66.3 billion dirhams for the first half of 2020, with a growth of 30.7%, followed by India with a value of 67.1 billion dirhams, compared with 38.5 billion dirhams, a growth of 74.5%, and then the United States Which recorded 32 billion dirhams, compared with 31.7 billion dirhams, a growth of 1%, while the trade exchange with Saudi Arabia recorded 30.5 billion dirhams, compared with 24.1 billion dirhams, with a growth of 26%, and Switzerland 24.8 billion dirhams, compared with 24.2 billion dirhams, with a growth of 2.3%.

The share of the big five partners in Dubai's foreign trade amounted to 241.21 billion dirhams, compared to 185.06 billion dirhams for the same period last year, a growth of 30.34%.

Leap in direct trade

Direct trade from Dubai's foreign trade recorded a strong jump of 39.5%, to reach 445.6 billion dirhams, while the value of free zone trade amounted to 272.2 billion dirhams, a growth of 19.8%, and customs warehouse trade, 4.5 billion dirhams, an 8.1% growth.

The value of trade through air freight operations achieved a strong growth of 46.15% during the first half of this year, reaching 364.8 billion dirhams, compared to 249.6 billion dirhams for the first half of last year, and the trade transported through sea freight operations recorded a growth of 16.7% to reach 247.5 billion dirhams, compared to 212.18 billion dirhams, and 23.7% transported by land to 110 billion dirhams, compared to 88.8 billion dirhams.

72.3 billion dirhams e-commerce

Dubai Customs is developing a cross-border e-commerce platform to stimulate e-commerce companies and related sectors to establish regional headquarters in Dubai.

The volume of e-commerce in the UAE is expected to reach about $27 billion (100 billion dirhams) in 2022, with a growth rate of 23%, noting that e-commerce sales in the country recorded $19.7 billion (72.3 billion dirhams) in 2020.

gold in the foreground

Gold topped the list of the most valuable merchandise in Dubai's non-oil foreign trade for the first half of this year, accounting for 19.2% of Dubai's total foreign trade, bringing the total value to 138.8 billion dirhams, followed by smartphone trade with a value of 94 billion dirhams, with a contribution rate of 13%. Of the total Dubai trade, then the diamond trade with a value of 57.3 billion dirhams, with a contribution of 8%, while the jewelry trade achieved 34.1 billion dirhams, with a contribution of 4.7%, and the car trade with 28 billion dirhams, with a contribution of 4% of the total Dubai trade.

Dubai Crown Prince:

• "The achievement was achieved in light of the commitment to the directives of Mohammed bin Rashid, to increase Dubai's foreign trade to two trillion dirhams."

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