DAFZA's foreign non-oil trade exceeds AED 119 billion in 2020

WAM (File photo)

Dubai Airport Freezone Authority's (DAFZA) foreign non-oil trade reached more than AED 119 billion in 2020.

The free zone contributed 10 per cent to Dubai's non-oil foreign trade last year, and 25 per cent to the total trade in free zones in the emirate.

DAFZA saw exceptional growth during the third and fourth quarters of 2020, with trade surging 36.4 per cent and 23 per cent year-on-year.

Meanwhile, trade during the second half of 2020 increased 7.1 per cent compared to the first six months of the year, led by a rise in imports, exports and re-exports.

The free zone also achieved a trade surplus of AED 15.8 billion, with the first half of 2020 accounting for AED 8.5 billion and the rest recorded during the second half of the year.

In terms of goods, machinery, TV and electrical equipment accounted for the bulk of DAFZA's trade followed by pearls, semi-precious stones and metals.

Asia accounted for 42.6 per cent of DAFZA's total trade, followed by MENA countries (37.9 per cent), the GCC (17.8 per cent) and Europe (3.6 per cent).

China was the free zone's biggest trading partner in 2020, accounting for 27 per cent of the total trade valued at AED 32.3 billion.

Iraq came second (10 per cent at AED 11.8 billion), followed by India (seven per cent at AED 8.6 billion).

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