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| 13 August, 2017

UAE's Jebel Ali Free Zone trade reaches $80.2billion in 2016

Image for illustrative purpose.
Containers are stacked at the Jebel Ali port in Dubai June 27, 2006.

Image for illustrative purpose. Containers are stacked at the Jebel Ali port in Dubai June 27, 2006.

REUTERS/Regi Varghese

DUBAI, 13th August, 2017 (WAM) -- Dubai-based Jebel Ali Free Zone (Jafza), a subsidiary of global trade enabler, DP World, has announced the growing of its non-oil foreign trade by 17 percent from 23.9 million to 27.9 million tonnes in 2016, worth $80.2 billion.

Commenting on the announcement, Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, said, "The value and volume of trade through Jafza underlines the strength of the national economy and its ability to adapt to global trading conditions, create investment opportunities and open up new markets to exports from the UAE." Mr. Bin Sulayem added that Jafza supports economic diversification in line with the directives of Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, to provide services and incentives to investors that meet their aspirations and provide additional benefits to compete in local, regional and global markets.

He added, "Jebel Ali Port plays a pivotal role in enabling international trade so companies operating in Jafza can import and re-export their goods and products to the various countries of the region. The Dubai Logistics Corridor connects Jebel Ali Port and Al Maktoum International Airport in one customs zone, reducing the time taken for the movement of goods between sea and air transport modes and making the area the main transit gateway in the Middle East." China has maintained its position as Jafza's largest trading partner, with $11.3 billion worth of trade during the year with many Chinese companies in Dubai using logistics capability to re-export goods and products. Saudi Arabia is the second largest Jafza trading partner with $7 billion, while Vietnam was third with $4.3 billion through the import of electronics and electrical appliances, followed by the United States with a trade volume of $3.7 billion.

Machinery, electronics and electrical goods accounted for 49 percent of Jafza's total trade with Jebel Ali Port’s ability to handle heavy equipment playing a key role, coupled with high consumer demand in the sector. Petrochemicals, oil and gas sector had 16 percent of total trade, followed by food and FMCG (8 percent), textiles and garments (7 percent), automotive and spare parts (6 percent).

Trade with the Asia Pacific region came to $32.4 billion, followed by the Middle East at $27.2 billion, the European continent ($9.9 billion), the Americas ($5.5 billion) and Africa ($5 billion).

© Copyright Emirates News Agency (WAM) 2017.