The Dubai Airport Freezone Authority (DAFZA) said on Wednesday that its non-oil foreign trade reached more than Dhs 119 billion in 2020.

The free zone contributed 10 percent of Dubai’s non-oil foreign trade and 25 percent of total Dubai free zone trade.

DAFZA’s trade increased in the third and fourth quarters of 2020 by 36.4% and 23% respectively compared to the corresponding period of the previous year.

The free zone also posted a trade surplus of 15.8 billion Dhs, or 8.5 billion Dhs in the first half and 7.4 billion Dhs in the second half.

In the second half of 2020, DAFZA increased its total trade by 7.1% compared to the first half. It was attributed to the increase in imports of all types of products by 10.7 percent and exports by 7 percent and re-exports by 4.5 percent.

In terms of goods, machinery and electrical equipment ranked first in DAFZA’s trade in 2020, accounting for 76.7% of its trade with a value of 51.7 billion dirhams for exports and re-exports.

Pearls, semi-precious stones and metals followed with 16.2 percent and a value of 10.9 billion dirhams for exports and re-exports. The two sectors represent 93 percent of DAFZA’s total trade.

Asia ranked first in terms of major trading partners with a share of 42.6 percent in total DAFZA trade, followed by MENA countries with 37.9 percent, in which GCC countries accounted for 17.8 percent.

Europe ranked third with 13.6 percent of total DAFZA trade. China was DAFZA’s largest trading partner in 2020, with 27% of trade valued at Dh32.3 billion, followed by Iraq with 10% at Dh11.8 billion.

India was third with 7 percent at 8.6 billion Dhs. In terms of imports, China ranked first with 62.6 percent, followed by India with 15.5 percent and the United States with 5 percent. Iraq was the leading exporter with 17.5 percent, followed by Switzerland with 7.5 percent and Saudi Arabia with 6.2 percent.

Dubai’s non-oil foreign trade reached 1,182 billion dirhams in 2020. Air trade represented 559 billion dirhams. Maritime trade reached 421 billion Dhs, while land trade reached 203 billion Dhs. Its total trade volume in 2020 reached 100 million tonnes, driven by 6% year-over-year volume growth in the second half of the year.

Read: Dubai’s non-oil foreign trade reached 1.182 trillion dirhams in 2020

About The Author

Related Posts

Leave a Reply

Your email address will not be published.