Dubai Airport Freezone Authority's non-oil foreign trade crossed Dhs119bn in 2020
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Dubai Airport Freezone Authority’s non-oil foreign trade crossed Dhs119bn in 2020

Dubai Airport Freezone Authority’s non-oil foreign trade crossed Dhs119bn in 2020

China was DAFZA’s biggest trading partner accounting for 27 per cent of all trade valued at Dhs32.3bn

Dubai Airport Freezone Authority

The Dubai Airport Freezone Authority (DAFZA) said on Wednesday that its foreign non-oil trade reached more than Dhs119bn in 2020.

The free zone contributed 10 per cent to Dubai’s non-oil foreign trade and 25 per cent to the total trade in free zones in Dubai.

DAFZA’s trade grew during the third and fourth quarters in 2020 by 36.4 per cent and 23 per cent respectively compared to the corresponding period the year prior.

The free zone also achieved a trade surplus of Dhs15.8bn, which accounted for Dhs8.5bn in the first half and Dhs7.4bn in the second half of the year.

In H2 2020, DAFZA growth its total trade by 7.1 per cent compared to the first half of the year. It was attributed to the increase in imports of all types of goods by 10.7 per cent and exports by 7 per cent, and re-exports by 4.5 per cent.

In terms of goods, machinery and electrical equipment ranked first for DAFZA’s trade in 2020, making up 76.7 per cent of its trade with a value of Dhs51.7bn for exports and re-exports.

Pearls, semi-precious stones and metals followed this with 16.2 per cent and a value of Dhs10.9bn for exports and re-exports. Both sectors represent 93 per cent of DAFZA’s total trade.

Asia ranked first in terms of major trading partners with a 42.6 per cent share in total DAFZA trade, followed by MENA countries with 37.9 per cent, in which the GCC countries accounted for 17.8 per cent.

Europe ranked third at 13.6 per cent of DAFZA’s total trade. China was DAFZA’s biggest trade partner in 2020, with 27 per cent of a trade valued at Dhs32.3bn, followed by Iraq with 10 per cent at Dhs11.8bn.

India was third with 7 per cent at Dhs8.6bn. In terms of imports, China ranked first with 62.6 per cent, followed by India with 15.5 per cent and the US with 5 per cent. Iraq ranked first in exports and accounted for 17.5 per cent, followed by Switzerland with 7.5 per cent and Saudi Arabia with 6.2 per cent.

Dubai’s non-oil foreign trade reached Dhs1.182 trillion in 2020. Airborne trade accounted for Dhs559bn. Sea trade meanwhile reached Dhs421bn, while land trade touched Dhs203bn. Its 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.

Read: Dubai’s non-oil external trade reached Dhs1.182 trillion in 2020

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