Arab News, Monday, Apr 12, 2021 | Shaaban 29, 1442
Dubai’s non-oil trade tops $321.8 billion in 2020
Emirates:
Dubai’s non-oil foreign trade reached $321.8 billion (1.185 trillion dirhams) in
2020, 13.5 percent lower than the previous year as the coronavirus pandemic
weighed on activity.
Total trade volume dropped to 100 million tons, from 109 million tons in 2019,
although shipments received a 6 percent boost in the second half of the year,
the Dubai Media Office reported.
Exports rose eight percent to $45.47 billion while imports reached $186.8
billion, and re-exports totaled $89.58 billion.
“The exceptional growth performance of Dubai’s external trade sector reflects
the emirate’s impressive resilience and its ability to recover and grow amidst
international crises,” Sheikh Hamdan bin Mohammed bin Rashid Al-Maktoum, crown
prince of Dubai and chairman of Dubai Executive Council, said in a statement.
“We were able to quickly renew our momentum of growth and reestablish our global
leadership in various sectors.”
He added that the city has set an example for the world in dealing with both the
economic and health repercussions of the COVID-19 pandemic.
He further said that Dubai was quickly able to re-establish its global
leadership in multiple sectors.
Sultan Ahmed Bin Sulayem, chairman and CEO of Dubai Ports World, meanwhile said:
“With the gradual opening of borders, Dubai’s trade volumes started recovering
and growing quickly in the second half of 2020.”
“This rebound is now spurring greater growth in 2021. The resumption of trade
with Qatar, the start of trade engagement with Israel, the positive spin-offs
from hosting EXPO 2020 and the launch of the Dubai 2040 Urban Master Plan will
all contribute to accelerating the emirate’s growth momentum.”
China maintained its position as Dubai’s largest trading partner in 2020 with
$38.66 billion worth of transactions, followed by India with $24.2 billion and
the US with $16.6 billion.