Dubai non-oil foreign trade surged 22pc in nine months

20 January, 2020 12:00 AM printer

DUBAI: Dubai’s non-oil foreign trade volumes surged to 83 million tonnes in the first nine months of 2019, revealed Dubai Customs on Saturday. These figures represent an increase by 22 per cent year-on year from 68 million tonnes during the same period in 2018.

According to the customs authority, the volume of re-exports jumped 48 per cent to 13 million tonnes, while exports rose by 47 per cent (14 million tonnes) and imports grew by 13 per cent (56 million tonnes), report agencies.

The Director-General of Dubai Customs, Ahmed Mahboob Musabih, confirmed that these 2019 achievements serves as further incentive for 2020 aspirations. He asserted that ‘4th of January Document’ announced by His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, “will be a great inspiration for more dedicated work towards more sustainable development.”

The ‘4th of January Document’ announcement coincided with the 14th anniversary of the accession of His Highness as Ruler of Dubai. The document detailed the formation of a new Dubai Council who’s objective is to enhance the emirate’s competitiveness across all areas and sectors, Musabih explained.

Another accomplishment attained by Dubai Customs in 2019 was the rise of the number of transactions carried out by the Dubai government department, recording an increase of 34 per cent, or 13 million transactions, compared to 9.7 million in 2018. The customs authority attributed this increase to its “advanced services delivered by Dubai Customs to its clients,” thus reflecting the “robust and health” economy and trade the emirate has on a regional and global scale.

“Dubai trade with the world crossed the trillion mark growing by six per cent to reach Dh1.019 trillion in the first nine months of 2019 from Dh966 billion in the same period in 2018,” Musabih noted. Exports rose by 23 per cent to Dh118 billion, re-exports grew by four per cent to Dh312 billion, and imports were up three per cent at Dh589 billion.

“In support of this growth,” he added, “Dubai Customs launched a number of initiatives that aim to facilitate and enhance trade, including 24 projects in support of the upcoming EXPO 2020.”