The Dubai Integrated Economic Zones Authority (DIEZ) has announced unprecedented trade figures of Dhs336 billion ($91.5 billion) for its three zones in 2024, reflecting a significant 19 percent growth compared to the previous year.
This increase boosted DIEZ’s share of Dubai’s non-oil trade to an all-time high of 13.7 percent, marking the fourth consecutive year of growth.
Trade volumes surged by 28 percent, reaching 444,300 tonnes, up from 346,700 tonnes in 2023.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, remarked that the results showcase the emirate’s capacity to “innovate, create new growth opportunities, and turn challenges into advantages.”
He further noted that these outcomes support the Dubai Economic Agenda D33, which seeks to double the city’s economy and place it among the top three urban economies globally by 2033.
DIEZ manages three free zones
DIEZ is responsible for overseeing the Dubai Airport Free Zone, Dubai Silicon Oasis, and Dubai CommerCity.
The authority indicated that the growth was propelled by stronger goods and services movement and enhanced connections with international markets.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, emphasized that these results underscore Dubai’s attractiveness as a “preferred destination for international businesses and investors.” Executive Chairman Mohammed Al Zarooni expressed that the performance serves as “a strong motivator to reach even greater heights annually.”
Machinery, electrical equipment, and electronics comprised roughly 72 percent of DIEZ’s total trade, increasing by 17 percent, whereas precious stones, metals, and jewelry saw a 33 percent rise, accounting for around 22 percent.
Collectively, these two sectors constituted 94 percent of all trade activities.
The authority noted that its resilience is supported by advanced infrastructure, streamlined operations across its zones, and robust supply chain solutions that enhance its position in Dubai’s non-oil trade and global competitiveness.