Dubai’s non-oil trade grows 6% in 2019 to Dh1.37 trillion – The National

Dubai’s non-oil trade grows 6% in 2019 to Dh1.37 trillion – The National

Dubai's non-oil trade grows 6% in 2019 to Dh1.37 trillion. China remained Dubai's largest trading partner, contributing Dh150 billion last year, followed by India. Dubai, a regional business and tourism hub, saw a 6 per cent increase in non-oil foreign trade last year, spurred by activity at the emirate's free zones, government data showed.. The value of non-oil external trade rose to Dh1.37 trillion in 2019, up from Dh1.29tn in 2018, with gold emerging as the highest traded commodity by value, the Government of Dubai Media Office said in a statement on Saturday.. The emirate's non-oil trade grew in 2019 despite headwinds from a slowdown in global economic growth and weaker global trade.. Dubai's foreign trade out of free zones in 2019 was "a major contributor" to the overall increase, accounting for Dh592bn, an 11 per cent increase year-on-year, according to the government data.. Direct trade rose 2 per cent growth to reach Dh770bn.. In terms of trade with other countries, China remained Dubai's largest trading partner, contributing Dh150bn.. The country was the emirate's fifth-biggest partner globally, contributing Dh56bn.. Dubai "is progressing steadily" towards its trade target of Dh2tn by 2025, Sheikh Hamdan said..