The Dubai trade sector has experienced drastic growth in the first half of 2021 with numbers that exceed pre-coronavirus levels, specifically in terms of customs transactions, indicating the emirate’s shift to focus on non-oil external growth.
This push comes as a part of Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai’s goal to reach 2 trillion AED in external trade.
“Dubai is leading the global recovery way. The emirate’s non-oil external trade grew 10 percent to AED354.4 billion in Q1, 2021, from AED323bn in the corresponding period in 2020,” said H.E. Ahmed Mahboob Musabih, Director General of Dubai Customs.
Dubai Customs reported that transactions totalled 11.2 million in H1 2021. This compares to 7.3m customs transactions in H1 2020, showing a 53.4 percent increase over the year.
Over 11m (99.6 percent) of the H1 2021 transactions were conducted via smart and electronic channels.
Approximately 7.9m transactions (70.8 percent) were completed through smart channels, 3.2m (28.8 percent) were completed using electronic channels and a mere 41,800 transactions (0.37 percent) were done manually.
Dubai Customs has launched 24 initiatives to support visitors and exhibitors of the upcoming Expo 2020, which is set to open in October after being delayed a year to slow the spread of Covid-19.
“We developed several programs and plans to facilitate trade including the recent ‘Electronic Confirmation of Exit/Entry’ initiative, which was launched in cooperation with DP World, UAE Region,” Musabih commented. “The project eases the process of refund claims submission at Dubai Customs, saves time and cost, while further expediting the exports of all kinds of goods.”
H.E. Ahmed Mahboob Musabih, Director General of Dubai Customs.
Recently, Dubai Customs hosted the fifth WCO Global Authorized Economic Operator Conference, where ideas and insights were exchanged between trade and supply chain professionals from across the world.
“Our recent hosting of the 5th WCO Global Authorized Economic Operator Conference indicates that the business world has much trust in the emirate as a leading hub for trade and reflects the major role it plays in facilitating global trade, and the close and fruitful relationship between Dubai Customs and the World Customs Organization,” Musabih said.
Technologies such as Smart Workspace have enabled customs declarations to be completed in four minutes on average.
Customs declarations saw a 66.6 percent increase in the first half of this year, reaching 10 million declarations. In the first half of 2020, there were only 6m declarations. Over 55,500 declarations have been made on an average day in H1 2021.
These transactions were comprised of 475,900 claim requests, 298,000 certificate and report requests, 139,800 customs inspection date booking requests and 110,600 business registration requests.
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