DIEZ boosts contribution to Dubai economy with record results

The Dubai Integrated Economic Zones Authority (DIEZ) has announced record-breaking results for 2023, with total trade across its economic zones reaching AED 282 billion.

This represents a substantial 33 per cent increase compared to 2022.

DIEZ's economic zones, including Dubai Airport Free Zone, Dubai Silicon Oasis and Dubai CommerCity, significantly boosted Dubai's non-oil trade, contributing 13.5 per cent in 2023, up from 11.4 per cent the previous year.

Imports through DIEZ surged by 48 per cent to AED 157.6 billion, marking an increase of over AED 51 billion for the second year in a row.

Meanwhile, DIEZ's exports surpassed AED 1 billion for the first time, totalling AED 7.8 billion - an over seven-fold increase from 2022. Additionally, re-exports through DIEZ reached AED 116.1 billion.

"DIEZ is progressing with deliberate and strategic steps to strengthen its exceptional contribution to Dubai's trade, elevate performance, and solidify its vital role in achieving the goals of the Dubai Economic Agenda D33," said His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ.

. @HHAhmedBinSaeed, Chairman of DIEZ: The remarkable and unprecedented results achieved by DIEZ on multiple levels reflect #Dubai's prestigious and growing status as the destination of choice for companies and investors worldwide. pic.twitter.com/rVPCTESeCM

— Dubai Media Office (@DXBMediaOffice) August 12, 2024

Key trading partners for DIEZ in 2023 included China, leading with AED 89.9 billion in trade, reflecting a growth rate of 32.8 per cent. India followed with AED 15.9 billion, marking a 51.7 per cent increase, and Iraq with AED 15.5 billion, showing a growth rate of 7.7 per cent.

Other notable DIEZ partners include Vietnam, with a transaction volume of AED 15.4 billion and a growth rate of 172 per cent, the United States with AED 12.3 billion (110% growth), and Turkey at AED 10.5 billion (83.6% growth).

DIEZ also experienced a notable 15.3 per cent increase in the number of registered companies, with total employment across its zones exceeding 70,000.

Mohammed Al Zarooni, Executive Chairman of DIEZ: We remain steadfast in our commitment to progress, comprehensive development, and innovation across all DIEZ’s economic zones. This drives us to launch more competitive initiatives and projects, strengthen cooperation with various… pic.twitter.com/znnsggmY0a

— Dubai Media Office (@DXBMediaOffice) August 12, 2024

DIEZ boosts its contribution to Dubai’s economic growth with record trade results in 2023

- Authority’s contribution to #Dubai’s non-oil trade up to 13.5% from 11.4% in 2022.

- Total value of DIEZ’s trade in 2023 put at AED 282 billion, a growth of 33% on the previous year.

-… pic.twitter.com/WPGheD1Vmw

— Dubai Media Office (@DXBMediaOffice) August 12, 2024