Record Trade Achievements by Dubai Integrated Economic Zones Authority in 2024
The Dubai Integrated Economic Zones Authority (DIEZ) has reported a remarkable trade volume of Dhs336 billion ($91.5 billion) across its three zones in 2024. This represents a significant 19% increase from the previous year, marking a new milestone in the authoritys history.
Contribution to Dubais Non-Oil Trade
With this growth, DIEZs contribution to Dubais non-oil trade has reached 13.7%, the highest on record. This marks the fourth consecutive year of expansion, highlighting the authoritys consistent upward trajectory.
Increase in Trade Volumes
Trade volumes have surged by 28%, reaching 444,300 tonnes compared to 346,700 tonnes in 2023. This increase underscores the robust performance of DIEZ in facilitating trade activities.
Leadership Insights on DIEZs Success
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, emphasized that DIEZs results demonstrate Dubais capacity to innovate and transform challenges into opportunities. He noted that this performance aligns with the Dubai Economic Agenda D33, which aims to double the citys economy and position it among the worlds top three urban economies by 2033.
DIEZs Oversight of Key Free Zones
DIEZ manages three key free zones: Dubai Airport Free Zone, Dubai Silicon Oasis, and Dubai CommerCity. The authority attributes its growth to stronger flows of goods and services and enhanced global market connections.
Statements from DIEZ Leadership
Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, stated that the results underscore Dubais attractiveness as a preferred destination for international companies and investors. Executive Chairman Mohammed Al Zarooni added that the performance serves as strong motivation to achieve even greater accomplishments in the future.
Sector Contributions to Trade Growth
Machinery, electrical, and electronics sectors accounted for approximately 72% of DIEZs total trade, with a 17% increase. Precious stones, metals, and jewellery sectors grew by 33%, representing around 22% of the trade. Combined, these sectors constituted 94% of the trade activity.
Infrastructure and Global Competitiveness
DIEZ attributes its resilience to advanced infrastructure, integrated operations across its zones, and supply chain solutions. These factors have reinforced its role in Dubais non-oil trade and enhanced its global competitiveness.
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