Dubai: Non-oil foreign trade grows 10% to $96 billion

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The volume of Dubai’s non-oil external trade in the first half of 2021 rose 10 percent to 48 million tons.
  • Exports grow 25 percent to Dh50.5 billion. Imports account for Dh204.8 billion, growing 9 percent

  • Gold tops the list of commodities in Dubai’s Q1 external trade at Dh63 billion, growing 27 percent

Dubai’s foreign trade this quarter touched Dh354.4 billion ($96 billion) growing 10 percent from Dh323 billion ($88 billion) in the corresponding period in 2020, and 5 percent compared to Q1 2019.

Exports grew 25 percent to Dh50.5 billion, representing a volume of 5 million tonnes, a rise of 20 percent, and imports accounted for Dh204.8 billion, growing 9 percent.

The value of re-exports reached Dh99 billion, growing 5.5 percent.

Hailing the achievement, Dubai crown prince and chairman of The Executive Council of Dubai, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said the performance reflected their external trade sector’s  resilience and its ability to rebound and grow in the face of major international crises.

“We have been able to achieve this by virtue of our good governance, advanced infrastructure, strategic location, our status as a regional and global hub for trade, and the generous stimulus packages that the government has launched in support of trade and businesses,” Sheikh Hamdan said.

“This remarkable growth will get us closer to the ambitious target of Dubai’s five-year strategy to raise the value of external trade to Dh2 trillion,”  he added.

Gold topped the list of commodities in Dubai’s Q1 external trade at Dh63 billion, growing 27 percent, followed by telecoms at Dh50 billion, growing 32 percent. Diamonds registered a record growth of 61 percent and came third in the list with Dh29 billion, followed by jewelry with Dh17 billion, and vehicle trade, which grew 9 percent to reach Dh14billion.