Dubai’s DIEZ sees record 2024 trade milestone, driving non-oil growth

Dubai: The Dubai Integrated Economic Zones Authority (DIEZ) has reported record trade growth across its three free zones in 2024, achieving total transactions worth Dh336 billion, a 19% increase over 2023. This performance lifted DIEZ’s contribution to Dubai’s non-oil foreign trade to 13.7%, marking its highest-ever share and sustaining growth for the fourth consecutive year.

The economic zones under DIEZ include the Dubai Airport Freezone, Dubai Silicon Oasis, and Dubai CommerCity, which together have strengthened Dubai’s position as a global trading hub through increased flows of goods, services, and partnerships with key international markets. Trade volume also rose by over 28%, reaching 444,300 tons, up from 346,700 tons in 2023.

Trade in machinery, electrical, and electronics sectors accounted for around 72% of DIEZ’s total trade, growing 17%, while precious stones, metals, jewelry, and ornaments grew 33%, contributing 22% of total trade. Together, these two sectors represented nearly 94% of DIEZ’s overall trade, highlighting the focus on high-value industries.

The growth reflects DIEZ’s ability to adapt to global economic shifts, supported by advanced infrastructure, seamless zone integration, and innovative solutions that improve supply chain efficiency.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence of the UAE, praised the results on his X account: “This achievement highlights the visionary leadership of Mohammed bin Rashid and his determination to reinforce Dubai’s role as a global business hub, in line with the D33 Agenda.” He expressed confidence that DIEZ, led by Sheikh Ahmed bin Saeed Al Maktoum, will continue to deliver strong results by harnessing Dubai’s economic dynamism.

Sheikh Hamdan also noted that the results demonstrate Dubai’s ability to innovate, unlock new growth avenues, and generate value for investors, businesses, and entrepreneurs, reinforcing the emirate’s competitiveness regionally and globally.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, said: “DIEZ’s remarkable performance in 2024, marking the fourth consecutive year of growth, reflects Dubai’s rising stature as a global economic and trade hub and a preferred choice for international companies and investors. We are confident that DIEZ will continue to make steady strategic progress, enhancing its contribution to Dubai’s trade and reaching new heights across sectors.”

Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, added: “The exceptional results achieved by DIEZ in 2024, alongside its comprehensive growth across all three zones, motivate us to pursue even greater accomplishments. We remain committed to advancing innovation and strengthening Dubai’s competitiveness on the global trade map.”

The record trade figures come as Dubai continues to implement the Dubai Economic Agenda D33, which aims to double the size of Dubai’s economy and position it among the world’s top three urban economies by 2033. DIEZ’s performance in 2024 underscores its pivotal role in driving non-oil trade, attracting global investment, and supporting sustainable economic growth, reinforcing Dubai’s position as a leading international business hub.