Dubai DAFZA's non-oil foreign trade topped $32bln in 2020

China was the free zone's biggest partner accounting for 27% of trade

  
DP World joins with Tradelens, a blockchain-based digital container logistics platform jointly developed by A.P. Moller - Maersk and IBM, to digitise global supply chains. Image courtesy Dubai Media Office Twitter handle.

DP World joins with Tradelens, a blockchain-based digital container logistics platform jointly developed by A.P. Moller - Maersk and IBM, to digitise global supply chains. Image courtesy Dubai Media Office Twitter handle.

Dubai Airport Freezone Authority (DAFZA) said its foreign non-oil trade reached more than 119 billion dirhams ($32 billion) in 2020, adding 10 percent to Dubai's non-oil foreign trade.

This was 25 percent of the total trade in free zones in the emirate of Dubai, affirming the capability in overcoming the challenges and consequences of the pandemic, it said in a statement Wednesday.

Compared to the same period in 2019, DAFZA's trade grew 36.4 percent and 23 percent year-on-year during the third and fourth quarters in 2020.

The free zone also achieved a trade surplus of 15.8 billion dirhams, of which 8.5 billion dirhams came in the first half of the year and 7.4 billion dirhams in the second half.

In H2 2020, trade expanded by 7.1 percent compared to the first half of the year, driven by 10 percent increase in imports of all types of goods, 7 percent rise in exports and 4.5 percent increase in re-exports.

In terms of goods, machinery and electrical equipment was the top traded, making up 76.7 percent. Pearls, semi-precious stones and metals followed with 16.2 percent. Together, the two sectors represent 93 percent of DAFZA's total trade.

Asia was its top trading partner with 42.6 percent share in total DAFZA trade, followed by MENA countries with 37.9 percent, in which the GCC countries accounted for 17.8 percent. Europe was the third with 13.6 percent.

Among countries, China was DAFZA's biggest trade partner in 2020, with 27 percent of trade valued at 32.3 billion dirhams, followed by Iraq with 10 percent at 11.8 billion dirhams. India was third with 7 percent at 8.6 billion dirhams.

(Writing by Brinda Darasha; editing by Daniel Luiz)

brinda.darasha@refinitiv.com

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