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DP World Chairman and CEO and Chairman of Ports, Customs and Free Zone Corporation (PCFC) Sultan bin Sulayem commented on these figures, saying, “Dubai has once again demonstrated its great capacity to cope with and make the best of the ups and downs of global trade, focusing on the thriving sectors of ICT products and smart devices.â€
“The foreign trade sector has no doubt been a key player in the UAE’s successful economic diversification, which saw the contribution of hydrocarbon to the nation’s GDP significantly dropping to just 30 per cent.”
“As a major enabler of trade in the region, Dubai Customs further improved its operational efficiency with an integrated array of trade
facilitation services. As a result, the number of Customs transactions jumped to 9 million in 2015 and is expected to increase further over the coming years,” Bin Sulayem added.
In Dubai, gold trading was valued at AED 117bn, diamond trading at AED 94bn, and jewellery trading at AED 65bn. Automobile trading also maintained its position among the leading trading sectors in 2015 at AED 68bn. The bulk weight of traded goods surged by 6 per cent to reach 85 million tons compared to 81mn tons in 2014. Direct trade accounted for the largest share of Dubai’s total foreign trade at AED 802.14bn, while free-zones and customs warehouses contributed AED 447.23bn and AED 33.16bn respectively. In terms of shipment and freight transport, air cargo accounted for AED 571bn of Dubai’s foreign trade, while sea freight contributed AED 501bn and trade conducted by land AED210 bn.
China maintained its position as Dubai’s leading trading partner with AED176bn of trade. India came second at AED96bn followed by the United States at AED 82bn.
The Kingdom of Saudi Arabia also maintained its position as the top Arab and GCC trading partner and fourth globally with AED 57bn.
Germany stood fifth at AED 46 billion.