Imports accounted for Dhs320 billion, exports Dhs77 billion, and re-exports stood at Dhs154 billion. WAM
Enterprise Bureau, Gulf Immediately
Dubai recorded Dhs551 billion price of non-oil exterior commerce within the first half of 2020. The emirate’s skill to minimise the affect of the pandemic-induced world financial slowdown on its buying and selling sector displays its distinctive logistics infrastructure, which enabled it to take care of uninterrupted commerce flows and a streamlined provide chain.
Imports accounted for Dhs320 billion, exports Dhs77 billion, and re-exports Dhs154 billion. A complete quantity of 44 million tonnes of products have been traded by Dubai together with 30 million tonnes of imports, 8m tonnes of exports and 6m tonnes of re-exports.
Sultan Bin Sulayem, DP World Group Chairman & CEO and Chairman of Ports, Customs and Free Zone Company, stated the emirate’s exterior commerce sector is able to overcoming the robust headwinds going through world commerce because of the depth, resilience, range and suppleness of the Dubai financial system.
“Exterior commerce is without doubt one of the key pillars of our financial system. We’re at the moment reaping the fruits of the imaginative and prescient of our nation’s founding leaders and our robust strategic planning, backed by many years of exhausting work in creating a sturdy buying and selling and logistics infrastructure. Dubai’s exterior commerce sector has proven a excessive degree of preparedness in coping with the disaster. It has supplied distinctive buying and selling services and companies to assist companies world wide overcome the challenges of the present interval,” he stated.
“Through the pandemic, Dubai launched a number of stimulus packages below the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to assist the emirate’s enterprise sector and cut back the affect of prevailing world financial situations. The financial system has effectively navigated the turbulence in worldwide markets by forging partnerships with markets much less affected by the financial disaster. We’re optimistic in regards to the future and we’ll search to continuously develop our commerce enterprise, particularly through the use of new applied sciences to make sure optimum efficiency and supply high quality commerce companies,” Bin Sulayem added.
Ahmed Mahboob Musabih, Director Normal of Dubai Customs stated: “Regardless of the disaster, customs transactions processed by Dubai Customs surged 41% in H1 2020 to succeed in 7.2 million transactions. Dubai Customs continued to develop and launch new initiatives. These included Siyaj (Fence), the primary built-in 24/7 management system on the planet created to handle Dubai’s completely different ports, particularly Creek Port and Hamriya Port. Dubai Customs additionally launched the Cross Border e-Commerce Platform to encourage e-commerce corporations to arrange their companies in Dubai.
The World Customs organisation (WCO) endorsed Dubai Customs’ initiative to launch a global platform for finest practices and Approved Financial Operator (AEO) mutual recognition agreements amongst AEO members. Dubai Customs will cleared the path in facilitating the trade of safe information between the WCO and member customs administrations. A complete of 77 corporations have registered as members of the AEO programme and round 4.4 million customs transactions have been accomplished by the programme in H1 2020, Musabih defined.
Dubai Customs, in cooperation with the WCO and the UAE Federal Customs Authority, is presently making ready to host subsequent yr’s fifth WCO World AEO convention. Dubai Customs performed a significant function in the course of the COVID-19 pandemic in facilitating and supporting the sleek and uninterrupted circulation of products by the worldwide provide chain, in cooperation with its strategic companions. The organisation applied the stimulus package deal launched by the emirate’s management to assist companies overcome the affect of the pandemic. Its partnership with authorities departments performed a key half in facilitating the clearance of aid shipments despatched to pleasant nations to assist them sort out the disaster.
Dubai’s exterior commerce confirmed appreciable progress in Might and June in comparison with April 2020, a interval during which widespread lockdowns have been enforced throughout the globe to fight the pandemic. Dubai’s exterior commerce grew in Might in comparison with April by 17.2% to succeed in Dhs75 billion, and once more grew 20% in June in comparison with Might to succeed in Dhs90 billion.
The newest exterior commerce figures for H1 2020 present robust integration between completely different modes of delivery: land, sea and air. Airborne commerce accounted for Dhs250 billion, accounting for 45% of complete commerce. Sea commerce reached Dhs212 billion (39%), whereas land commerce touched Dhs89 billion (16%).
Direct commerce totalled Dhs320b, representing 58% of Dubai’s exterior commerce, whereas commerce by free zones reached Dhs227b(41%), and customs warehouse commerce weighed in at Dhs4b (1%).
China maintained its place as Dubai’s largest buying and selling companion in H1 2020 with Dhs66.4 billion price of commerce. India got here in second with Dhs38.5 billion, adopted by the USA in third place with Dhs31.7 billion, and Switzerland with Dhs24.3 billion. Saudi Arabia continued to be Dubai’s largest Gulf and Arab commerce companion and its fifth largest world commerce companion with Dhs24.1 billion price of commerce.