Dubai’s foreign trade in 2020 touched AED1.182 trillion ($322 billion), with total trade volume in 2020 reached 100 million tonnes, driven by a 6% year-on-year volume growth in the second half of the year.
Overall value of exports in 2020 grew 8% to AED167 billion while imports accounted for AED686 billion and re-exports totalled AED329 billion, state news agency WAM reported.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, said: "The exceptional growth performance of Dubai’s external trade sector reflects the emirate’s impressive resilience and its ability to recover and grow amidst international crises. Dubai has set an example for the world in dealing with both the economic and health repercussions of the pandemic. We were able to quickly renew our momentum of growth and reestablish our global leadership in various sectors."
"This growth has been made possible by robust governance and the stimulus packages the Dubai Government launched under the directives of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The stimulus packages included a number of initiatives to support the foreign trade sector and enable it to continue playing its important role in national economic growth. The strong trade performance signals a positive start to the ‘Year of the 50th’’ and the efforts to achieve the goals of the UAE Centennial Plan 2071," noted Sheikh Hamdan.
For his part, Sultan bin Sulayem, DP World Group Chairman & CEO and Chairman of Ports, Customs and Free Zone Corporation said: "Dubai’s external trade sector impressively overcame the impact of a global trade downturn in 2020. With the gradual opening of borders, Dubai’s trade volumes started recovering and growing quickly in the second half of 2020. In the third quarter, Dubai’s trade surged 34% compared to Q2, and in Q4, trade grew by 7% to AED326 billion compared to Q3."
"To develop the external trade sector and play a greater role in maintaining Dubai’s leading position in global trade, the Dubai Chamber has been restructured by creating three new chambers of commerce. The new chambers will enhance support for the trade sector by creating new solutions for the needs of investors and companies as part of a strategy to grow the emirate’s global trade in line with the vision of Dubai’s leadership for the next 50 years."
Dubai’s direct trade in 2020 totalled AED711 billion, while trade through free zones reached AED464 billion and customs warehouse trade weighed in at AED7 billion. Airborne trade accounted for AED559 billion. Sea trade reached AED421 billion while land trade touched AED203 billion.
