95% increase in business registration applications
Dubai’s economy continued its exceptional performance despite headwinds from a slowdown in global economic growth due to the pandemic, Dubai Customs has said in a recent press statement.
The number of customs transactions completed by Dubai Customs skyrocketed 36% in the first five months of 2020 to reach 5.9mn compared to 4.4mn transactions in the corresponding period in 2019.
In May, Dubai Customs completed 1.1mn transactions compared to 994,000 in May 2019, growing 10.6%. The growth reflects economic resilience and efficient response to the pandemic and its impact on economic sector in general, thanks to Dubai Customs’ highly advanced infrastructure, stimulus packages and smart services.
Customs declarations rose 42% in the first five months of this year to reach 5mn declarations compared to 3.5mn declarations in the corresponding period in the previous year. A million declarations were completed in January, almost the same for February, 1.3mn in March, 691,000 in April, and a million declarations in May.
Dubai saw exceptional growth in business registration applications. Against all odds, Dubai Customs completed 107,000 business registration requests from January to May, growing 95% from 55,000 in the first five months in 2019.
“A number of initiatives launched by the government have helped the business sector keep going, enhanced liquidity and reduced the impact of the current global economic situation,” noted Ahmed Mahboob Musabih, Director General of Dubai Customs.
Dubai Customs has heavily invested in advanced technologies to facilitate trade and support the global supply chain. As a result, Dubai Customs completed 3.51mn (99.2%) transactions through smart and online channels, with only 0.8% done through the service counters.
