The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
DUBAI / WAM
DP World UAE Region, including Jebel Ali Free Zone (Jafza) has reaffirmed its position as the region’s top trade and logistics hub by generating 29.4 million metric tonnes (MT) of trade, valued at $83.1 billion in 2017.
The figures contribute 23 percent to the total value of trade in Dubai, 70 percent of the value of all Dubai’s free zone trade combined and has increased four percent year-on-year. The volume of trade amounts to 97 percent of Dubai’s total free zone trade, 32 percent of Dubai’s total trade and has seen a six percent increase year-on-year. The total traded volume of 29.4 million MT is the highest since 2013.
Sultan Ahmed bin Sulayem, DP World Group Chairman and CEO, said, “This is a proud moment for Jafza as our free zone continues to lead Dubai’s trade sector maintaining its position as a regional and global business and logistics hub of choice. Last year’s growth was achieved against the headwinds of an economic slowdown across the world. The sustained growth of Jafzasince 2013 across diverse sectors demonstrates its ability to leverage key market dynamics to create growth opportunities for our customers.â€
Over 77% of Jafza’s total trade volume in 2017 was generated by three sectors, oil and gas, foodstuff, livestock and agricultural products, and metal, steel and construction material.
Meanwhile, 76 percent of the trade value was derived from five sectors electronics and electricals, vehicle and transport, retail and general trading, oil and gas, and machinery and equipment.