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Dubai’s foreign trade rises to AED 645 billion in first half of 2018

2018-09-18

Hamdan Bin Mohammed: Achievement confirms the success of initiatives to develop economic sectors and the ability to cope with global changesSultan bin Sulayem: Mohammed bin Rashid’s vision of the importance of free zones has resulted in growth in foreign tradeFreezone trade jumps 20%, up 43 billion dirhams, and a strong re-export growth of 14%, adding to its value of 24 billion dirhams  

China is the world’s leading trading partner and Saudi Arabia is the first Arab and fourth globally

Dubai has boosted its economic growth with a new achievement that demonstrates its ability to turn challenges into achievements. Dubai’s non-oil foreign trade has boosted its continuous growth to AED 645 billion in the first half of 2018, an increase of AED 5 billion compared to the first half of 2017. The re-export trade grew strongly by 14%, representing an increase of AED 24 billion to AED 203 billion, confirming Dubai’s role as a regional and global re-export hub, with imports worth AED 377 billion and exports AED 65 billion.

HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, praised the outstanding performance of Dubai’s non-oil foreign trade during the first half of 2018. “This achievement demonstrates the success of government initiatives in supporting and developing economic and commercial activity, To meet the changes taking place in the international economy, in order to confirm the continued rapid progress in achieving global leadership in various fields.Establish new heights in Dubai’s economic and financial performance in the forefront of our strategic objectives, and look forward to more innovative ideas to precede our achievements The world looks to be completed after ten years, employing the latest technologies and technological applications as partners in the leadership of the Fourth Industrial Revolution

“The growth of the foreign trade sector is an indication of the success and excellence of Dubai’s economic development and the emirate’s ability to attract more trade from different regions of the world while playing a pivotal role in linking international markets and facilitating trade between them,” he said. The role of this role as a link between the markets of the East and the West, while providing a unique global model in the discovery and development of opportunities despite the challenges facing the global trade movement, while Dubai contributes to the ability of sisterly and friendly countries to promote economic growth by employing the Advanced to your area in infrastructure, high efficiency, reliability and services provided by traders and investors that

“The development of Dubai’s trade capabilities opens new horizons for expanding trade and economic ties with the world. The Dubai 2020 Expo is an important addition to the ongoing efforts to promote this goal. And will represent a real leap forward in the field of building and consolidating trade relations between the participating countries, in recognition of Dubai’s role in building and activating bridges of global economic cooperation.

Dubai’s foreign trade through free zones in the emirate registered a strong jump in the first half of 2018 with a growth of 20%, an increase of 43 billion dirhams to 257 billion dirhams. The re-export trade through the free zones registered a growth of 31% The value of exports from the free zones increased by 23% to 8 billion dirhams, while the value of imports through the free zones increased by 12% to 136 billion dirhams. The value of direct trade amounted to 383 billion dirhams and the value of customs warehouse trade was 6 billion dirhams

Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World, Chairman of the Ports, Customs and Free Zone Corporation, said: “Through its success in developing its foreign trade, Dubai has established a unique global experience in achieving economic diversification and progress in achieving it continuously. The results achieved in the foreign trade sector show the importance of the long-term vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to work on the development of the national economy in general and the economy of Dubai in the face of The Jafza Free Zone has been launched since its inception. The national economy today has reaped the fruits of this march, which culminated in the pivotal role of Jafza and the rest of the free zones. In Dubai in terms of supporting growth in foreign trade and turning it into a key pillar in the growth of the national economy. “

“The new achievement of Dubai Foreign Trade reinforces our efforts and improves our performance at the Ports, Customs and Free Zone Corporation to support the growth of the national economy and implement the new stimulus initiatives launched by our wise leadership to develop business and economic activity, while continuing to achieve an unrivaled success in hosting the exhibition. Dubai Expo 2020. The success of Dubai Customs in being the first winner of the Best Government Award in support of Expo 2020 at the Dubai Government Excellence Awards 2018 has given us additional work capacity to consistently advance our efforts to make the exhibition a success by Including the initiative of the “Temporary Entry Book” to exempt companies participating in trade fairs from paying customs duties on their goods during the period of their presence in exhibitions. The initiative also aims to develop a specialized channel, “Smart Expo Channel” to use the latest intelligent applications in the achievement Exhibitors’ Transactions On the way to prepare for hosting the Expo 2020, Dubai Customs provided investors with new facilities and services, notably the “Certified Economic Operator” program, which was developed and launched under the umbrella of the Federal Customs Authority, The percentage of customs data achieved through the program by 2020 to 50% of the total number of data, and the Department launched a “smart recovery system,” which provides customers with the service of refund of insurance on customs duties using artificial intelligence.

Bin Sulayem explained that Dubai Customs continues to achieve increasing achievements in the field of excellence, innovation and innovation. The department has received 109 awards in this field, including the Middle East Government Award, the government entity with international standards of excellence and the best government support for Expo Dubai In the year 2018, Dubai Customs received 14 awards for excellence, innovation and innovation, including nine awards for the 2018 American Idea Organization, four of which were gold prizes.

Dubai’s foreign trade was distributed among the various means of transport. The value of air transport was AED 302 billion, while trade through sea ports reached 237 billion dirhams, while the value of trade transported by road reached 106 billion dirhams.

With Dubai’s continued success in diversifying international markets and opening new markets for its foreign trade, the trading partners of the emirate spread across the world. China was the first trading partner in Dubai’s foreign trade during the first half of this year with a trade value of AED 69 billion, The strong development in the UAE’s relations with China, which culminated in Chinese President Xi Jinping’s visit to the country recently. India was the second trading partner with a trade value of 56 billion dirhams, followed by the United States with third trade partner status with a trade value of 39 billion dirhams. The Kingdom of Saudi Arabia was the first commercial partner in the Gulf and Arab countries and the fourth with a trade value of 29 billion dirhams.

In the first half of 2018, Dubai’s foreign trade reached AED 76 billion, with the emirate strengthening its reputation as a major hub for regional and international trade. Landline, mobile and smart phones valued at AED 75 billion and jewelery valued at AED 51 billion And diamonds worth 47 billion dirhams and cars worth 33 billion dirhams.

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