Dubai's non-oil foreign trade has achieved sustainability from the challenges faced by COVID-19's global economic ramifications and the suspension of business operations around the world in the first half of last year, with high growth expected in 2020.

Dubai's foreign trade in 2020 is expected to reach Dhs1.182 trillion, thanks to its resilience to global headwinds, and its steady economic recovery and revitalized growth in the second half of the year. In 2020, total volume of trade grew by 6% year on year in the second half of the year, bringing total trade volume to 100 million tonnes. In 2020, the overall value of exports increased by 8% to Dhs167 billion, while imports totaled Dhs686 billion and re-exports totaled Dhs329 billion.

“The incredible growth success of Dubai's external trade sector reflects the emirate's remarkable stability and ability to recover and expand amidst international crises,” said Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council. Dubai established a standard for the rest of the world in coping with the pandemic's economic and health consequences. We were able to rapidly re-establish our global leadership in various sectors and re-ignite our growth momentum.”

“Rich governance and stimulus packages implemented by the Dubai Government on the orders of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, have enabled this development. A range of methodologies was included in the stimulus packages to help the international trade market increase national economic development.

The positive trade performance heralds a promising start to the ‘Year of the 50th' and efforts to achieve the UAE Centennial Plan 2071's objectives.

“The external trade sector's notable growth in 2020 will fuel the implementation of Dubai's five-year plan to increase its foreign trade to Dhs2 trillion, strengthening the emirate's status as a leading global and regional trade and investment hub. With 200 new cities added to Dubai's current network of 400, the emirate's new international trade map will see an increase of air and sea navigation routes,” Sheikh Hamdan said.

“Dubai's foreign trade sector magnificently conquered the effect of a global trade slowdown in 2020,” said Sultan Bin Sulayem, Chairman, and CEO of DP World Group and Chairman of Ports, Customs, and Free Zone Corporation. Dubai's trade volumes started to recover rapidly in the second half of 2020, thanks to the opening of borders. Dubai's trade increased by 34% in the third quarter compared to the second, and by 7% in the fourth quarter to Dhs326 billion compared to the third. In contrast to the same timeframe in 2019, trade volumes increased by 6% in the second half of 2020. In total, 100 million tonnes of products were exchanged in 2020, indicating the sector's swift recovery.

The reestablishment of exchange with Qatar, the beginning of trade relations with Israel, the positive effects of hosting EXPO 2020, and the unveiling of the Dubai 2040 Urban Master Plan would all lead to the emirate's continued growth.”

“The Dubai Chamber has been restructured by establishing three new chambers of commerce to expand the external trade sector and preserving Dubai's leading position in global trade,” Bin Sulayem continued. To increase the emirate's foreign trade in line with Dubai's leadership vision for the next 50 years, the new chambers will enhance aid for the trade sector by providing new solutions for the investors and companies.”

Both government agencies and institutions will work together to achieve the aim of improving Dubai's foreign trade and continue its crucial role in promoting global trade and tourism, according to DP World Group Chairman & CEO and Chairman of Ports, Customs and Free Zone Corporation.

Dubai Customs has unveiled its five-year plan for the years 2021-2026, laying out nine priorities and four key objectives for the development of customs operations. The American Business Agility Institute (BAI) awarded Dubai Customs the Agile Organization Certification, making it the first agile government organization in the world.

Dubai Customs signed a MoU with Etihad Export Credit Insurance Company (ECI) to improve cooperation with export funders and promote export efficiency. In May, the Department, in collaboration with the Federal Customs Authority and the World Customs Organisation, will host the 5th WCO Global AEO Conference in Dubai. ” Dubai's direct trade in 2020 was Dhs711 billion, with Dhs464 billion coming from free zones and Dhs7 billion coming from customs storage trade.

The value of airborne exchange was Dhs559 billion, sea trade was Dhs421 billion, while the land trade was Dhs203 billion.