Dubai’s non-oil foreign trade touches Dh1 trillion in 2020

Dubai’s non-oil foreign trade touches Dh1 trillion in 2020

Dubai's non-oil foreign trade in 2020 touched Dh1.182 trillion, strongly rebounding 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.

Total trade volume in 2020 reached 100 million tonnes, driven by a 6 per cent year-on-year volume growth in the second half of the year. The overall value of exports in 2020 grew 8 per cent to Dh167 billion while imports accounted for Dh686 billion and re-exports totalled Dh29 billion.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of The Executive Council of Dubai said: “This growth has been made possible by robust governance and the stimulus packages the Dubai Government launched under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

“The stimulus packages included a number of initiatives to support the foreign trade sector and enable it to continue playing its important role in national economic growth. The strong trade performance signals a positive start to the ‘Year