Dubai’s DIEZ posts record Dhs336bn trade in 2024, up 19%

Image: DIEZ

The Dubai Integrated Economic Zones Authority (DIEZ) reported record trade of Dhs336bn ($91.5bn) across its three zones in 2024, a 19 per cent increase from the previous year.

The growth lifted DIEZ’s contribution to Dubai’s non-oil trade to 13.7 per cent, its highest on record, marking the fourth consecutive year of expansion.

Trade volumes rose 28 per cent to 444,300 tonnes compared with 346,700 tonnes in 2023.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, said DIEZ’s results underscored the emirate’s ability to “innovate, unlock new avenues for growth and transform challenges into opportunities.”

Sheikh Hamdan added the performance supported the Dubai Economic Agenda D33, which aims to double the city’s economy and position it among the world’s top three urban economies by 2033.

DIEZ oversees three free zones

DIEZ oversees the Dubai Airport Free Zone, Dubai Silicon Oasis, and Dubai CommerCity.

Growth was driven by stronger flows of goods and services and deeper ties with global markets, the authority said.

Sheikh Ahmed bin Saeed Al Maktoum, chairman of DIEZ, said the results highlighted Dubai’s appeal as a “preferred choice for international companies and investors,” while executive chairman Mohammed Al Zarooni said the performance provided “strong motivation to pursue even greater accomplishments year after year.”

Machinery, electrical and electronics accounted for about 72 per cent of DIEZ’s total trade, rising 17 per cent, while precious stones, metals and jewellery grew 33 per cent, representing around 22 per cent.

Together, the two sectors made up 94 per cent of trade activity.

The authority said its resilience was underpinned by advanced infrastructure, integrated operations across its zones, and supply chain solutions that reinforced its role in Dubai’s non-oil trade and global competitiveness.