Dubai's non-oil external trade reached Dh1.182 trillion

Dubai on Saturday said its non-oil foreign trade hit Dh1.182 trillion last year despite headwinds from an intensified global economic downturn.

Dubai’s foreign trade reached Dh1.182 trillion last year, boosted by its economic recovery in the second half of the year, the Government of Dubai Media Office said in a statement on Saturday. Prior-year figures were not provided.

Total trade volume in 2020 reached 100 million tonnes, driven by a 6 per cent year-on-year volume growth in the second half of the year. Overall value of exports in 2020 grew 8 per cent to Dh167 billion while imports accounted for Dh686 billion and re-exports totalled Dh329 billion.

Gold topped the list of commodities in Dubai's 2020 external trade at Dh213bn, followed by telecoms, diamonds, petroleum oils and jewellery.

China maintained its position as Dubai’s largest trading partner in 2020 with Dh142 billion worth of trade. India came in second with Dh89 billion, followed by the US in third place with Dh61 billion.

Dubai’s direct trade in 2020 totalled Dh711bn, while trade through free zones reached Dh464bn and customs warehouse trade came in at Dh7bn. Airborne trade accounted for Dh559bn at the air transport hub. Sea trade reached Dh421bn while land trade touched Dh203bn.

The emirate has introduced various support measures to help the economy emerge stronger following the coronavirus outbreak. The trade and investment hub of the Middle East has also provided stimulus packages worth Dh6.8 billion ($1.85bn) to cushion the impact of the pandemic.

Dubai has a five-year plan to grow its external trade to Dh2tr and to expand its air and sea navigation routes. The emirate plans to add 200 new cities to its existing network of 400 cities.

The rebound in Dubai's non-oil foreign trade is spurring greater growth in 2021, Sultan bin Sulayem, DP World Group chairman and chief executive and the chairman of Ports, Customs and Free Zone Corporation said.