Announcement made ahead of UAE National Day commemorations
Ahead of the UAE 49th National Day celebrations on 2 December, Dubai Customs released trade figures, which reflected the significant role the oldest government department played in developing and enhancing Dubai and the national economy through the years.
Dubai non-oil external trade has doubled about ten times between 2000 and 2019 rising from AED143bn (US$ 39bn) in 2000 to AED1.271tn (US$ 346bn) in 2019. In the first half of 2020, Dubai trade made around AED 551bn.
“We do our job efficiently in facilitating legitimate trade and travel, and protecting the society,” affirmed Ahmed Mahboob Musabih, Director General of Dubai Customs. “Dubai Customs keeps developing and evolving to keep abreast with the latest technologies,” he added.
Customs transactions completed by Dubai Customs grew 44% in 5 years (2015-2019) to 13mn transactions at the end of 2019 compared to 8.9mn transactions in 2015. The growth reflects the resilience of the national economy and the pivotal role Dubai plays in the global trade.
Another important initiative is the launch of the Virtual Corridor, which enables the movement of goods faster, easier and cheaper. Around 324,435 customs transactions were completed through the initiative in 2018.
One of the leading initiatives launched by Dubai Customs is the Virtual Stock Guarantee. The new facility supports re-export activity from free zones to external markets. More than 18,000 companies based in 24 free zones and 37 customs warehouses can benefit from this Virtual Stock Guarantee facility.
