Dubai’s non-oil foreign trade in the first half of 2021 reached Dhs 722.3 billion, up 31% from Dh 550.6 billion recorded during the corresponding period in 2020.
Exports increased by 45% year-on-year in the first half of 2021 to 109.8 billion Dhs against 75.8 billion Dhs, in accordance with the 10 x 10 program (one of the national initiatives “Projects of the 50”) aimed at bring UAE exports to 10 world markets by 10% per year.
Imports increased 29.3% year-on-year to Dhs414bn vs. Dhs320bn. Re-exports increased by 28.3 percent to 198.6 Dhs from 154.79 Dhs.
Dubai’s non-oil foreign trade volume in the first half of 2021 increased 10% to 48 million tonnes, from 43.7 million tonnes in the first half of 2020. Exports climbed 30.8% year-on-year for reach 10.1 million tonnes. Re-exports totaled 7 million tonnes, increasing 10.6 percent, and imports increased 4.25 percent to 31 million tonnes.
China maintained its position as Dubai’s largest trading partner in the first half of 2021 with trade worth Dhs 86.7 billion, up 30.7% from Dh 66.3 billion in the first half of 2020. Trade with India also increased by 74.5% year-on-year to reach 67.1 billion Dhs. from 38.5 billion Dhs. Trade with the United States amounted to 32 billion Dhs, up 1% compared to 31.7 billion Dhs in H1 2020. 24.2 billion dirhams.
The total share of Dubai’s five largest trading partners in the first half of 2020 amounted to 241.21 billion Dhs against 185.06 billion Dhs in the first half of 2020, an increase of 30.34%.
Gold topped the list of commodities in Dubai’s foreign trade in the first half of the year with 138.8 billion Dhs (19.2% of Dubai’s trade), followed by telecommunications with 94 billion Dhs (13%) . Diamonds came third with 57.3 billion Dhs (8%), followed by jewelry at 34.1 billion Dhs (4.7%) and vehicle trade at 28 billion Dhs (4%).
#DubaiNon-oil foreign trade jumped 31% in the first half of 2021 to reach AED 722.3 billion from AED 550.6 billion during the corresponding period in 2020.https: //t.co/LylvYtizeK pic.twitter.com/YtUOlRsm8H
– Dubai Media Office (@DXBMediaOffice) September 26, 2021
Direct trade in the first half of 2021 totaled 445.6 billion Dhs, up 39.5%, while trade through free zones reached 272 billion Dhs, an increase of 19.8%. The trade of customs warehouses increased by 8.1% to reach 4.5 billion Dhs. Airborne trade increased 46.15% to Dhs364.8 billion, while maritime trade increased 16.7% to Dhs247.5 billion and land trade increased 23.7% to Dhs110bn.
“Dubai’s existing maritime and air network will be extended to cover 200 new cities around the world,” said Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council. “The accelerated pace of foreign trade growth also reflects Dubai’s growing global role in facilitating and streamlining global trade and supply chains. With Dubai set to host delegates from 191 nations at Expo 2020 Dubai, the emirate’s outstanding business performance further elevates its profile as a trading power.
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Meanwhile, Dubai Customs confirmed it made 12.7 million customs declarations in eight months; an average of 55,000 daily declarations. Customs transactions in the first half of 2021 increased by 53.4% to reach 11.2 million.
“Dubai’s World Logistics Passport (WLP) initiative is helping to reinvent the way goods and services move around the world, strengthen the resilience of global supply chains, and remove barriers that prevent developing economies from trading. as freely as they could. We are pleased that 10 new countries have joined the world’s first logistics loyalty program that brings together airport authorities, port operators and shipping agents. This loyalty incentive program allows freight forwarders, traders and business owners to get the maximum possible benefits from their business operations, which can translate into a 5-10% increase in revenue, ”Sultan said. bin Sulayem, DP World Group. Chairman and CEO and Chairman of Ports, Customs and Free Zone Corporation.
As part of a five-year plan approved earlier this year by the Dubai Council, the emirate intends to increase its foreign trade from Dh1.4 trillion to Dh2 trillion.
Read: Sheikh Mohammed restructures the government of Dubai; approves the five-year foreign trade plan