Dubai: The Dubai Airport Freezone Authority’s (DAFZA) contribution to Dubai's non-oil foreign trade for the first-half of 2021 has reached 11 per cent. Trade during the period surged 34 per cent to Dh77 billion, with a surplus of Dh6.2 billion.
“Dubai is on track to achieve its foreign trade target of Dh2 trillion over the next five years. To realise this, it is strengthening foreign connections and adding 200 new cities to its network of global trade partners,” said Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DAFZA.
“In addition, DAFZA is continuing to grow its trade movement, with more strategic initiatives that elevate its services, customs facilities, as well as investment and commercial incentives."
As for re-exports, DAFZA saw gains of 24 per cent to total Dh40.8 billion, representing 20.5 per cent of Dubai's total non-oil foreign trade.
Returning to pre-pandemic levels
“DAFZA's results confirm the success of our efforts,” said Dr. Mohammed Al Zarooni, Director-General of tDubai Airport Freezone Authority.
Electrical equipment are among the key commodities featured in DAFZA’s trading. These saw a significant growth of 43 per cent compared to the previous year. As a result, the sector represented 74.4 per cent of exports and re-exports amounting to Dh31 billion.
This was followed by precious stones and metals and jewellery, which came in second with a 9 per cent growth from the previous year. The cluster accounted for 19.4 per cent of exports and re-exports amounting to Dh8.1 billion and 16.8 per cent of imports at Dh5.9 billion. These two represent approximately 94 per cent of DAFZA's overall trade.
In terms of trade partners, China came in first at 30 per cent with a trade value of Dh23 billion in the first-half of the year. Iraq was second at 7.1 per cent with Dh5.4 billion, followed by India at 4.6 per cent with Dh3.3 billion. DAFZA's trade with Turkey saw a five-fold growth this year.