Dubai’s Non-oil External Trade Reaches $322b in 2020

Dubai’s Non-oil External Trade Reaches $322b in 2020

Dubai's non-oil foreign trade strongly rebounded from the challenges posed by the global economic repercussions of COVID-19 and the suspension of business activity by countries across the world in the first half of last year to record high growth in 2020 - (WAM)

Dubai's foreign trade in 2020 touched AED1.182 trillion ($322 billion), with total trade volume in 2020 reached 100 million tonnes, driven by a 6% year-on-year volume growth in the second half of the year.

Overall value of exports in 2020 grew 8% to AED167 billion while imports accounted for AED686 billion and re-exports totalled AED329 billion, state news agency WAM reported.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, said: "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. Dubai has set an example for the world in dealing with both the economic and health repercussions of the pandemic. We were able to quickly renew our momentum of growth and reestablish our global leadership in various sectors."

"This growth has been made possible by robust governance and the stimulus packages the Dubai Government launched under the