UAE free zone trade tops AED621.3 bn in 2019


UAE free zone trade tops AED621.3 bn in 2019

10 Apr 2020

The trade volume of UAE free zones in 2019 grew to AED621.3 billion, up 2.1 percent from AED608.3 billion in 2018, statistics revealed by the Ministry of Finance have shown (source: WAM).

Non-oil foreign trade from the UAE free zones plays a significant role in diversifying the domestic economy, a fact which explains the paramount interest directed by the UAE federal and local governments to establishing a robust, investment-conducive infrastructure across these zones whose trade volume accounted for 53.5 percent of the country's total non-oil trade in 2019, which stood at AED1.16 trillion.

The free zone imports amounted to AED356.5 billion in 2019, a growth of 2.7 percent from 347 billion in 2018. The exports climbed to AED264.8 billion last year, 1.3 percent up from AED261.3 billion in 2018.

UAE free zones accommodate tens of thousands of foreign companies operating in various fields, including manufacturing industries, warehousing and storage services, commodities, media, information technology and others.

Source: SME10