– DAFZ data a 36 p.c year-on-year enhance in non-oil commerce in 2021
– DAFZ data a 36% year-on-year enhance in non-oil commerce in 2021
– Free zone’s non-oil commerce exceeded AED162 billion in 2021 in contrast with AED119 billion the yr earlier than

Non-oil commerce of Dubai Airport Free Zone (DAFZ), a part of the Dubai Built-in Financial Zones Authority (DIEZ), rose by greater than 36 per cent year-on-year in 2021, reinforcing Dubai’s power as a worldwide hub for commerce and commerce. Figures shared by the DAFZ in cooperation with Dubai Customs confirmed that the free zone’s non-oil commerce exceeded AED162 billion final yr in contrast with AED119 billion the yr earlier than.

These outcomes replicate DAFZ’s distinguished function in realising the strategic imaginative and prescient of His Highness Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to advertise the nationwide economic system and the funding setting of Dubai.

The distinctive monetary outcomes stem from DAFZ’s strategic initiatives and incentives to assist and facilitate its neighborhood of multinational and small-to-medium companies, enabling an funding setting and making certain seamless commerce exercise.

Because of its strategic location, business-friendly insurance policies, and strong sea and air infrastructure that connects with 400 worldwide cities, Dubai is the proverbial coronary heart of an funding ecosystem value trillions of {dollars}. The industrial capital of the area, Dubai affords companies unparalleled entry to a number of the world’s largest rising and established markets within the Center East, Europe, Africa, India, Asia and past.

DAFZ contributed 10.7% to Dubai’s non-oil commerce in 2021, exceeding expectations throughout all sectors. The free zone additionally recorded a commerce surplus of AED9.3 billion. This progress was fuelled by the huge 48% year-on-year enhance in imports, exceeding even the document ranges achieved in 2019 and leading to a quadrupling of exports, reaching AED1.4 billion in 2021.

Strategic contribution
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, mentioned: “We’re pleased with these distinctive outcomes that spotlight the strategic contribution of DAFZ beneath the umbrella of DIEZ. These outcomes have been pivotal in selling financial restoration in Dubai and the UAE. The free zone has totally recovered from the results of the COVID-19 pandemic, with commerce returning to pre-2020 ranges. This has bolstered its mission to boost its strategic targets and contribute to strengthening Dubai’s place as a worldwide commerce hub.”

“These unprecedented outcomes align with the nationwide financial efficiency, which recorded qualitative leaps just lately following the sturdy progress of Dubai’s non-oil commerce. This has grow to be a brand new base for additional progress this yr and sooner or later. Dubai has adopted numerous initiatives and undertaken improvement programmes in its industrial sectors, together with a digital companies system, growing its logistics infrastructure, and attracting nationwide and worldwide competencies. These initiatives have efficiently carried out operational programs that meet the best pace, effectivity, and competitiveness,” His Highness added.

Complete Plan
His Excellency Dr. Mohammed Al Zarooni, Govt Chairman of DIEZ, mentioned: “These distinctive outcomes spotlight the success and effectiveness of the strategic plans developed by Dubai to boost the expansion of the non-oil commerce sector and develop its operations by following a brand new and complete organisational construction. This has resulted in establishing the built-in enterprise setting of DIEZ, which heralds a brand new stage of excellence and progress throughout all ranges, along with providing flexibility in adapting to regional and world situations and turning challenges into actual alternatives for all events.”

“In the course of the pandemic, Dubai targeted on growing correct plans and continued to strengthen its partnerships and operations, a step that facilitated these distinctive outcomes. This yr serves as a brand new roadmap towards attaining the strategic targets of the Emirate’s non-oil commerce sector and changing into a worldwide hub for worldwide commerce. That is evident by the general progress of imports to the Emirate and the enabling partnerships and attraction of latest world firms which have chosen Dubai as the bottom for his or her world operations,” Al Zarooni added.

Sectors and companions
In 2021, DAFZ achieved distinctive progress that contributed to surpluses in numerous sectors, significantly within the ‘equipment, gear, and home equipment’  and ‘valuable stones, metals and jewelry’ sectors. These two sectors achieved progress between 36% and 46% and made up a median of 94% of DAFZ’s general commerce.

Equipment, gear, and home equipment had been the primary contributor to DAFZ’s commerce in 2021, making up 74.6% of exports with a worth of AED63.9 billion, and 77.1% of imports with a worth of AED 58.9 billion. Treasured stones, metals, and jewelry made up 19.3% of exports with a worth of AED 16.5 billion, and 16.7% of imports with a worth of AED 12.7 billion.

When it comes to DAFZ’s buying and selling companions, Asia accounted for 43% of DAFZ’s whole commerce with a worth of AED69.5 billion, adopted by the Center East and North Africa with 37% and a worth of AED60.7 billion, and Europe with 13% and a worth of AED21.6 billion.

DAFZ launched a collection of financial stimulus packages to assist worldwide firms and SMEs throughout the pandemic to beat the financial challenges that affected most enterprise sectors. This was according to Dubai’s strategic imaginative and prescient to supply firms and companies efficient packages and incentives to offer flexibility of their operations and assist them deal with the challenges posed by the pandemic