DAFZA contributes AED 164 billion to foreign trade
Dubai Airport Freezone Authority (DAFZA) made a 12% contribution to the emirate’s foreign trade in 2019, compared to 11.2% in 2018, out of a total trade value of AED 1.37 trillion recorded last year.
DAFZA's foreign trade exceeded AED 164 billion in 2019, compared to AED 146 billion in 2018, with a 12.6% growth.
This was driven by more than 15.8% growth in imports worth AED 72.4 billion. There was AED 91.8 billion in total exports and re-exports with 10.2% growth, allowing DAFZA to achieve an AED 19.4 billion trade surplus in 2019.
India was DAFZA's biggest trade partner in 2019 with 18.3% valued at AED 30 billion, followed by China with 17.3% at AED 28.4 billion. Switzerland was third with 16.3% at AED 26.8 billion.
In terms of imports, India ranked first with 40.7% at AED 29.4 billion, followed by China with 39.2% at AED 28.4 billion. Switzerland ranked first in exports and re-exports and accounted for 27.4% at AED 25.1 billion, followed by Iraq with 12.3% valued at AED 11.3 billion.
In terms of goods, machinery and electrical and electronics equipment ranked first with 55% of the total foreign trade in 2019, with a value of AED 37.4 billion for imports and AED 53 billion for exports and re-exports. This was an increase of 14.3% or AED 11.3 billion in DAFZA’s total trade.
This was followed by precious stones and metals with 38% of the total import value at AED 29.6 billion and AED 32 billion in terms of exports and re-exports. This meant an increase of 10.4% worth AED 5.8 billion. Both sectors represent 92.6% of DAFZA's total trade.
In 2019, DAFZA's total revenues of multinational companies increased by 36.6% compared to the same period in 2018. The total space occupied by multinational companies increased by more than 135%.
HE Dr Mohammed Al Zarooni, director general of DAFZA, said: “DAFZA is one of the most attractive destinations for global companies of all sizes and sectors looking to work within a safe and flexible investment environment that can keep pace with different economic trends and fluctuations.
“DAFZA succeeded due to its well-designed plans that ensure ease of business and better-controlled operations that match the requirements of various business sectors.”