Dubai foreign trade up 6% to Dh1.37 trillion in 2019

Dubai saw a 6% spike external trade growth in 2019, spurred by its efforts to achieve its 2025 trade target of Dh2 trillion.

Non-oil external trade, led by the gold trade, last year grew 19 per cent in volume from 91 million tonnes in 2018 to reach 109 million tonnes in 2019.

Jebel Ali Free Zone: Dubai’s foreign trade out of free zones in 2019 was a major contributor to the overall increase, accounting for Dh592 billion, a 11 per cent increase year-on-year.

In terms of value, Dubai’s external trade surged 6 per cent to Dh1.371 trillion from Dh1.299 trillion in 2018.

JUMP IN TRADE: Emirates Global Aluminium is the world's largest premium aluminium producer, as well as one of the largest companies in the UAE. Dubai's exports skyrocketed 22 per cent to Dh155 billion, re-exports grew by 4 per cent to Dh420 billion and imports rose by 3 per cent to Dh796 billion.

China remained Dubai’s largest trading partner, contributing Dh150 billion. India was the second biggest trading partner, contributing Dh135 billion, followed by the USA with Dh77.7 billion, and Switzerland with Dh60 billion.

The highest traded commodity by value in 2019 was gold, jewellery and diamonds which contributed Dh370 billion, a growth of 7 per cent from 2018.