DAFZ sees 36% YoY increase in non-oil trade in 2021 – News

Figures shared by DAFZ in cooperation with Dubai Customs showed that the free zone’s non-oil trade exceeded Dh162 billion last year, up from Dh119 billion the previous year.

DAFZ contributed 10.7% to Dubai’s non-oil trade in 2021, beating expectations across all sectors.

By Wam

Published: Sun 9 Oct 2022, 7:25 PM

Non-oil trade in the Dubai Airport Free Zone (DAFZ), part of the Dubai Integrated Economic Zones (DIEZ) Authority, grew by more than 36% year-on-year in 2021, bolstering the Dubai’s strength as a global hub for commerce and Commerce.

Figures shared by DAFZ in cooperation with Dubai Customs showed that the free zone’s non-oil trade exceeded 162 billion dirhams last year, up from 119 billion dirhams the previous year.

“We are proud of these outstanding results which underline the strategic contribution of DAFZ under the DIEZ umbrella. These results have played a central role in promoting economic recovery in Dubai and the United Arab Emirates. The free zone has fully recovered from the impact of the COVID-19 pandemic, with trade returning to pre-2020 levels. This has reinforced its mission to enhance its strategic objectives and help strengthen Dubai’s position as a hub of global trade,” said Sheikh Ahmed bin Saeed Al Maktoum, President of DIEZ.

“These unprecedented results align with the national economic performance, which has recently seen qualitative leaps following strong growth in Dubai’s non-oil trade. It has become a new base for further progress this year and in the future. Dubai has adopted various initiatives and undertaken development programs in its business sectors, including a digital service system, the development of its logistics infrastructure, and the attraction of domestic and international skills. These initiatives have successfully implemented operational systems that respond to the highest speed, efficiency and competitiveness,” added Sheikh Ahmed.

The outstanding financial results stem from DAFZ’s strategic initiatives and incentives to support and facilitate its community of multinationals and small and medium enterprises, enabling an investment environment and ensuring transparent business activity.

DAFZ contributed 10.7% to Dubai’s non-oil trade in 2021, beating expectations across all sectors. The free zone also recorded a trade surplus of 9.3 billion Dh. This growth was fueled by the massive increase in imports of 48% year-on-year, even surpassing the record levels reached in 2019 and leading to a fourfold increase in exports, reaching 1.4 billion dirhams in 2021.

Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, said that these exceptional results underline the success and effectiveness of the strategic plans drawn up by Dubai to strengthen the growth of the non-oil commercial sector and develop its operations by following a complete new organizational structure. .

“This has resulted in the establishment of DIEZ’s integrated business environment, which heralds a new stage of excellence and growth at all levels, in addition to offering flexibility to adapt to regional and global conditions and turn challenges into real opportunities for all parties.”

“During the pandemic, Dubai has focused on developing clear plans and continued to strengthen its partnerships and operations, a step that has facilitated these exceptional results. This year serves as a new roadmap to achieve the strategic goals of the emirate’s non-oil business sector and become a global hub for international trade. This is evident by the overall growth in imports to the emirate and the favorable partnerships and attraction of new global companies that have chosen Dubai as a base for their global operations,” added Al Zarooni.

These results reflect DAFZ’s leading role in realizing the strategic vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, to promote the national economy and Dubai’s investment environment.

In 2021, DAFZ achieved exceptional growth which contributed to surpluses in various sectors, notably in the “machinery, equipment and appliances” and “precious stones, metals and jewellery” sectors. These two sectors recorded growth of between 36% and 46% and accounted for an average of 94% of DAFZ’s overall trade.

Machinery, equipment and household appliances were the main contributor to DAFZ’s trade in 2021, accounting for 74.6% of exports worth Dh63.9 billion and 77.1% of imports worth Dh58. .9 billion Dhs. Precious stones, metals and jewelery accounted for 19.3% of exports with a value of 16.5 billion Dh and 16.7% of imports with a value of 12.7 billion Dh.

In terms of DAFZ’s trading partners, Asia accounted for 43% of DAFZ’s total trade with a value of Dh69.5 billion, followed by the Middle East and North Africa with 37% and a value of Dh60. .7 billion dirhams, and Europe with 13 percent and a value of 21.6 billion dirhams.

DAFZ has launched a series of economic stimulus packages to support international businesses and SMEs during the pandemic to overcome the economic challenges that have affected most business sectors. This was in line with Dubai’s strategic vision to offer companies and businesses effective packages and incentives to provide flexibility in their operations and help them meet the challenges posed by the pandemic. — wham

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