Dafza’s trade grows 11% to Dh120 billion in the first nine months of 2019
Dafza contributed 12% of Dubai's Dh1.02 trillion foreign trade in the first nine months of 2019
Dubai Airport Freezone Authority (Dafza)’s total foreign trade increased 11.2 per cent year-on-year in the first nine months of 2019 to Dh120 billion, with India being its biggest trade partner, the operator of the free zone said.
India accounted for the highest percentage of Dafza's trade with 18.7 per cent at Dh22.4bn, followed by Switzerland with 17 per cent at Dh20.2bn and China with 15.5 per cent at Dh18.6bn.
Dafza contributed 12 per cent of Dubai's Dh1.02 trillion foreign trade in the first nine months of 2019, the authority said in a statement on Wednesday.
“Dafza has become a strategic partner to foreign investors who benefit from our world-class services and advantages that facilitate ease of business,” said Dr Mohammed Al Zarooni, director general of Dafza.
“These services have enabled Dafza to become a key destination for foreign direct investments in the region and a strategic entry point towards regional markets. We will continue to focus on providing flexible services to international organisations and SMEs, located in the free zone,” Mr Al Zarooni added.
The free zone recorded a 11.8 per cent growth in re-exports, valued at Dh68bn. Dafza’s re-exports accounted for 21.7 per cent of total re-exports in Dubai.
Dafza’s operations during the first nine months of 2019 also helped it achieve a large trade surplus of Dh16.2bn, according to the statement.
Machinery and electrical equipment were the most traded goods, accounting for 57 per cent of the total re-exports, valued at Dh39bn and 49 per cent of the total imports at Dh25.2bn. This was followed by pearls, semi-precious stones and metals with 35 per cent of the total re-export, valued at Dh24.1bn and 43 per cent in terms of total imports worth Dh22.5 billion. Both sectors represent 92 per cent of Dafza’s total trade.
India also ranked first in imports and exports, accounting for 42.5 per cent, valued at Dh22bn, followed by China with 36 per cent at Dh18.5bn. Switzerland ranked first in re-exports from Dafza with 28 per cent, valued at Dh19bn.
“Dafza will continue to attract investors and companies from all around the world, enabling them to start their operations in Dubai and enter regional markets through a unique investment environment,” the statement said.
Dubai's non-oil foreign trade surged 6 per cent year-on-year in the first nine months of 2019 to Dh1.02trn, boosted by the contributions from the emirate's free zones.
The value of exports from Dubai rose 23 per cent to Dh118bn, re-exports grew 4 per cent to Dh312bn, and imports climbed 3 per cent to Dh589bn in the first nine months of 2019, state news agency Wam reported last month, citing official data.
Updated: January 8, 2020 06:14 PM