Dubai’s non-oil external trade grows to Dhs354bn in Q1 2021
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Dubai’s non-oil external trade grows to Dhs354bn in Q1 2021

Dubai’s non-oil external trade grows to Dhs354bn in Q1 2021

China remained Dubai’s largest trading partner in Q1 2021, with Dhs44bn worth of trade

Dubai external trade

Dubai’s foreign trade in Q1 2021 touched Dhs354.4bn, growing 10 per cent from Dhs323bn in the corresponding period in 2020, and up 5 per cent compared to Q1 2019.

Exports grew 25 per cent to Dhs50.5bn, representing a volume of 5 million tonnes (up 20 per cent), and imports accounted for Dhs204.8bn, growing 9 per cent. The value of re-exports reached Dhs99bn, increasing 5.5 per cent.

Direct trade in Q1 2021 totaled Dhs217bn, up 15 per cent over Q1 2020, while trade through free zones reached Dhs135bn, growing 2 per cent. Customs warehouse was recorded at Dhs2.3bn, representing an increase of 23 per cent.

Airborne trade accounted for Dhs179bn (up 15 per cent), sea trade reached Dhs120bn (an increase of 3 per cent), while land trade touched Dhs55.3bn (a growth of 7 per cent).

China maintained its position as Dubai’s largest trading partner in Q1 2021, with Dhs44bn worth of trade, representing a growth of 30 per cent. India came in second with Dhs35bn, growing 17 per cent, followed by the US at Dhs15.4bn.

Saudi Arabia also remained Dubai’s largest Gulf and Arab trade partner, and its fourth largest global trade partner, with Dhs14.7bn worth of trade, growing 20 per cent, followed by Turkey in fifth place with Dhs12bn, representing a significant increase of 72 per cent.

Gold topped the list of commodities in Dubai’s Q1 external trade at Dhs63bn, growing 27 per cent, followed by telecoms at Dhs50bn, up 32 per cent.

Diamonds registered a record growth of 61 per cent and came third in the list with Dhs29bn, followed by jewelry at Dhs17bn, and vehicle trade which grew 9 per cent to reach Dhs14bn.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of The Executive Council of Dubai said: “This remarkable growth will get us closer to the ambitious target of Dubai’s five-year strategy to raise the value of external trade to Dhs2 trillion and consolidate its position as a bridge connecting regional and international markets by constantly enhancing its infrastructure and logistics services. Furthermore, by hosting EXPO2020, ‘the world’s greatest show’, Dubai will make a significant contribution to the recovery of the global economy and help it move towards prosperity again.”

Read: Sheikh Mohammed restructures Dubai government; approves five-year foreign trade plan

Earlier this year, Dubai approved a new five-year trade plan with a special foreign trade focus on high-growth markets including Latin America, Africa and Asia.

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