Dubai’s non-oil foreign trade surges to AED 722 billion

Dubai’s non-oil external trade surged 31 per cent in the first half of 2021 to reach AED 722.3 billion.

Exports grew 45 per cent year-on-year in H1 2021 to AED 109.8 billion (from AED 75.8 billion), which supports the goal of the 10x10 programme (one of the nation’s ‘Projects of the 50’ initiatives) to increase the UAE’s exports to 10 global markets by 10 per cent annually.

Imports rose by 29.3 per cent to AED 414 billion (from AED 320 billion), while re-exports grew 28.3 per cent year-on-year to reach AED 198.6 billion (from AED 154.79 billion).

"This marked growth in trade demonstrates the success of Dubai’s strategic plan to consolidate its position as a global logistics and trade hub that connects the world’s diverse markets," said His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council.

"Dubai’s existing sea and air network will be expanded to cover 200 new cities around the world. We are confident that we will continue to build on our growth momentum to achieve our ambitious sustainable development projects and plans," he added.

#Dubai’s non-oil external trade surged 31% in the first half of 2021 to reach AED722.3 billion from AED550.6 billion in the corresponding period in 2020.https://t.co/LylvYtizeK pic.twitter.com/YtUOlRsm8H

— Dubai Media Office (@DXBMediaOffice) September 26, 2021

.@HamdanMohammed: Accelerated pace of external trade growth reflects Dubai’s growing global role in facilitating and streamlining worldwide trade and supply chains. #Dubai

— Dubai Media Office (@DXBMediaOffice) September 26, 2021

The volume of Dubai’s non-oil external trade in the first half of 2021 rose 10 per cent to 48 million tonnes compared to 43.7 million tonnes in H1 2020.

Exports surged 30.8 per cent year-on-year to reach 10.1 million tonnes, while re-exports totalled 7 million tonnes growing by 10.6 per cent, and imports rose by 4.25 per cent to 31 million tonnes.

China maintained its position as Dubai’s biggest trading partner in H1 2021 with AED 86.7 billion worth of trade compared to AED 66.3 billion in H1 2020, up 30.7 per cent year-on-year.

Trade with India grew 74.5 per cent to reach AED 67.1 billion, while trade with the USA amounted to AED 32 billion up 1 per cent year-on-year.

Saudi Arabia came fourth with AED 30.5 billion up 26 per cent, followed by Switzerland with AED 24.8 billion, up 2.3 per cent.

The total share of the five biggest trade partners in H1 2020 amounted to AED 241.21 billion compared to AED 185.06 billion in H1 2020, up 30.34 per cent.

Gold topped the list of commodities in Dubai's H1 external trade at AED 138.8 billion (19.2% of Dubai trade), followed by telecoms at AED 94 billion (13%).

Diamonds came third in the list at AED 57.3 billion (8%), followed by jewellery at AED 34.1 billion (4.7%), and vehicle trade at AED 28 billion (4%).

Direct trade in H1 2021 totalled AED 445.6 billion, up 39.5 per cent, while trade through free zones reached AED 272 billion, up 19.8 per cent.

Customs warehouse trade weighed in at AED 4.5 billion, up 8.1 per cent. Airborne trade accounted for AED 364.8 billion, jumping 46.15 per cent from AED 249.6 billion in H1 2020.

Sea trade reached AED 247.5 billion, up 16.7 per cent compared to AED 212.18 billion, while land trade touched AED 110 billion, up 23.7 per cent compared to AED 88.8 billion.