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Dubai’s foreign trade hits AED 1.182 trn in 2020

Dubai’s foreign trade hits AED 1.182 trn in 2020
Dubai recorded a total trade volume of 100 million tonnes in 2020

UAE - Mubasher:  The total value of Dubai’s foreign trade amounted to AED 1.182 trillion in 2020, recent data showed.

Dubai recorded a total trade volume of 100 million tonnes last year, attributed to a 6% year-on-year (YoY) volume increase during the second half (H2) of 2020, according to a recent statement by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai.

During the fourth quarter (Q4) of 2020, Dubai's trade value jumped by 7% to AED 326 billion, when compared to Q3-20.

In 2020, the overall value of exports rose by 8% YoY to AED 167 billion, while the emirate registered AED 686 billion imports and AED 329 billion re-exports.

Dubai’s direct trade reached AED 711 billion last year, while trade through free zones amounted to AED 464 billion.

Meanwhile, Dubai saw customs warehouse worth AED7 billion, airborne trade worth AED 559 billion, sea trade valued at AED 421 billion, and land trade valued at AED 203 billion.

China topped Dubai’s trading partners in 2020 with AED 142 billion, followed by India with AED 89 billion, and the USA with AED 61 billion.

In addition, Saudi Arabia continued to be the emirate's largest Gulf and Arab trade partner and its fourth-largest global trade partner with AED 54 billion.