Dubai Airport Freezone Authority (Dafza) said it has achieved a growth of 11.2 percent in the total value of foreign trade to reach Dh120 billion ($32.6 billion) during the first nine months of 2019.
The free economic zone also noted that it contributed 12 percent of Dubai’s Dh1.02 trillion foreign trade in the period. Dafza’s operational performance supported the increase in global trade through the free zone.
Dafza posted an additional 11.8 percent growth in re-exports, valued at Dh68 billion and accounted for 21.7 percent from the total re-exports in the emirate of Dubai. Dafza’s operations during the first nine months of 2019 helped achieve a large trade surplus of Dh16.2 billion.
Dr. Mohammed Al Zarooni, director general of Dafza, said: “Today, Dafza is a key contributor to Dubai’s economy, attracting foreign direct investments from all over the world. Despite economic conditions and global uncertainties, the results achieved across a range of KPIs reflect the increasing global trade volumes coming through the free zone towards international markets.”
“Dafza’s success has continued over two decades since its establishment and we continue to strive to achieve our strategic objectives. The free zone’s strategic location next to Dubai International Airport represents a vital connection between the East and the West. This location, in addition to our progressive portfolio of services and incentives, has ensured continued progress and we look forward to continuing this in the future.
“Dafza has become a strategic partner to foreign investors who benefit from our world-class services and advantages that facilitate ease of business. These services have enabled Dafza to become a key destination for foreign direct investments in the region and a strategic entry point towards regional markets. We will continue to focus on providing flexible services to international organizations and SMEs, located in the free zone,” Al Zarooni concluded.
India accounted for the highest percentage of Dafza’s trade with 18.7 percent at Dh22.4 billion, followed by Switzerland with 17 percent at Dh20.2 billion, then China with 15.5 percent at Dh18.6 billion.
In terms of exports and imports, India ranked first in imports and accounted for 42.5 percent, valued at Dh22 billion, followed by China with 36 percent at Dh18.5 billion, while Switzerland topped the list of countries in terms of re-exports from Dafza with 28 percent, valued at Dh19 billion.
In terms of goods, machinery and electrical equipment ranked first with 57 percent of the total re-export value of Dh39 billion and 49 percent of total imports accounted at Dh25.2 billion. Followed by pearls, semi-precious stones and metals with 35 percent of the total re-export value of Dh24.1 billion and 43 percent in terms of total imports worth Dh22.5 billion. Both sectors represent 92 percent of Dafza’s total trade.
The free zone achieved a trade surplus across all sectors in the first nine months of 2019, with the machinery and electrical equipment being the major driver to the imports and exports growth, with 13 percent at Dh7.4 billion.
Dafza will continue to attract investors and companies from all around the world, enabling them to start their operations in Dubai and enter regional markets through a unique investment environment, the free zone said in a statement.
TradeArabia News Service