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Mon 14 Oct 2019 08:34 AM

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Re-exports helps DAFZA's foreign trade rise to $21bn in H1 2019

India accounted for the highest percentage of trade with 18 percent at $3.8bn

Re-exports helps DAFZA's foreign trade rise to $21bn in H1 2019
Overall, DAFZA’s contribution to Dubai’s foreign trade reached 12 percent in the first half of the year.

Dubai Airport Freezone Authority (DAFZA) has revealed an 8 percent growth in the total value of foreign trade for the first half of this year, which exceeded $21 billion (AED78bn), an increase of $1.5bn (AED5.7bn).

The increase, compared to the same period last year, was driven by an 11 percent growth in re-exports, which reached around $12.2bn (AED45bn), representing 21 percent of the total re-exports in Dubai.

For the second consecutive year, the free zone also achieved a large trade surplus of over $2.9bn (AED11bn) – a growth of 35 percent compared to H1 2018.

Overall, DAFZA’s contribution to Dubai’s foreign trade reached 12 percent in the first half of the year.

India accounted for the highest percentage of trade with 18 percent at $3.8bn (AED14.1bn), followed by Switzerland with 16.4 percent at $3.4bn (AED12.8bn). China accounted for 15.7 percent at $3.3bn (AED12.3bn).

Switzerland topped the list of countries in terms of re-exports from DAFZA by 27 percent, valued at $3.2bn (AED12bn), a growth of 16 percent compared to the same period last year. While India ranked first in terms of its contribution to the imports of DAFZA and accounted for 41 percent, valued at $3.75bn (AED13.8bn), with a 16 percent growth on last year.

In terms of types of goods, machinery and electrical equipment ranked first with 58 percent of the total re-export value of $7bn (AED25.7bn), an increase of 15 percent - this sector accounts for 48 percent of total imports worth $4.4bn (AED16.2bn).

This was followed by pearls, semi-precious stones and metals with 35 percent of the total re-export value of $4.2bn (AED15.5bn) and 43 percent in terms of total imports worth $3.9bn (AED14.5bn).

Both sectors represent 92 percent of DAFZA’s total trade.

Already this year, a number of international companies have opened up regional headquarters in DAFZA, including Airbus, TNA and Michelin.