Dubai’s non-oil foreign trade grew 10% in the first quarter of 2021, reaching AED354.4 billion ($ 96.4 billion), from AED323 billion ($ 87.9 billion) ) during the same period in 2020.
This growth underscores the emirate’s ability to quickly recover from the challenges posed by the global economic repercussions of the COVID-19 pandemic.
Exports rose 25 percent to AED 50.5 billion (US $ 13.7 billion), representing a volume of five million tonnes, an increase of 20 percent. Imports amounted to AED 204.8 billion ($ 55.7 billion), up nine percent. The value of re-exports reached AED 99 billion ($ 26.9 billion), growing 5.5%.
âThis remarkable growth reflects the impressive resilience of our foreign trade sector and its ability to rebound and grow in the face of major international crises,â said Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai.
“We have always turned challenges into opportunities and have been able to achieve them thanks to 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. to support commerce and businesses.
These figures will âbring us closer to the ambitious objective of Dubai’s five-year strategy: to increase the value of foreign trade to AED2 trillion and consolidate its position as a bridge linking regional and international markets by constantly improving its infrastructure and logistics services â. he added.
âDubai’s continued efforts to develop economic capacity have borne fruit and the emirate has been able to recover quickly from the repercussions of the current global health crisis and experience rapid growth in foreign trade,â said Sultan bin Sulayem, DP World Group. Chairman and CEO and Chairman of Ports, Customs and Free Zone Corporation.
This growth shows how Dubai has benefited from its strong investments in information technology and digitization, which have enabled it to advance in its trade with the world, even during the pandemic, he added.