Dubai: The Dubai Integrated Economic Zones Authority (DIEZ) achieved record growth in its total trade across the three economic zones in 2024, reaching a value of AED336 billion, a 19% increase compared to 2023. DIEZ also achieved a 13.7% share of Dubai’s non-oil trade, marking its highest-ever contribution to date, sustaining growth for the fourth consecutive year.
According to Emirates News Agency, H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, commended DIEZ’s 2024 results. He stated that Dubai continues to play a central role in global commerce, aligning with the strategic vision of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The performance of DIEZ in 2024 exemplifies Dubai’s strong economic principles and its capacity for innovation and growth.
DIEZ’s growth was powered by an expansion in trade across its economic zones, including the Dubai Airport Free Zone, Dubai Silicon Oasis, and Dubai CommerCity. This growth was supported by increased flows of goods and services and strengthened partnerships with key global markets, solidifying DIEZ’s role as a central driver of Dubai’s non-oil trade growth.
The Authority’s strategic role is crucial in supporting Dubai’s position as a global hub for trade and logistics. DIEZ’s performance coincided with Dubai achieving a record high in non-oil foreign trade last year.
In terms of volume, DIEZ trade increased by over 28% in 2024, reaching 444,300 tons, compared to the previous year’s 346,700 tons. This growth reflects an increase in the movement of goods alongside higher trade values.
H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, highlighted that DIEZ’s performance in 2024 marks a fourth consecutive year of growth, enhancing Dubai’s status as a global trade hub. This progress supports the objectives of the Dubai Economic Agenda D33, aligning with the vision to double the size of Dubai’s economy and establish it among the world’s top urban economies by 2033.
Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, noted that the results achieved by DIEZ in 2024, alongside its growth across its economic zones, motivate further accomplishments. He emphasized the commitment to progress and innovation, strengthening Dubai’s competitiveness on the global trade map.
Trade in key sectors reached peak levels in 2024, with machinery, electrical, and electronics sectors accounting for approximately 72% of DIEZ’s total trade, achieving a 17% growth. Precious stones, metals, jewelry, and ornaments grew by 33%, contributing to around 22% of the total. Together, these sectors represented about 94% of DIEZ’s overall trade.
DIEZ’s performance in 2024 showcases its resilience amid global challenges and ability to adapt to economic shifts. This success is attributed to advanced infrastructure, seamless integration across economic zones, and innovative solutions that enhance supply chain efficiency, reinforcing its role as a key contributor to the national economy and a driver of Dubai’s competitiveness regionally and internationally.