The trade volume of UAE free zones in 2019 grew to Dh621.3 billion ($169 billion), up 2.1 per cent from Dh608.3 billion ($166 billion) the year before, reported state news agency Wam citing statistics revealed by the Ministry of Finance.

 

Non-oil foreign trade from the UAE free zones plays a significant role in diversifying the domestic economy, a fact which explains the paramount interest directed by the UAE federal and local governments to establishing a robust,investment-conducive infrastructure across these zones whose trade volume accounted for 53.5 per cent of the country's total non-oil trade in 2019, which stood at Dh1.16 trillion, it stated.

 

In more detail, the free zone imports amounted to Dh356.5 billion in 2019, a growth of 2.7 per cent from 347 billion in 2018. The exports climbed to Dh264.8 billion last year, 1.3 per cent up from Dh261.3 billion in 2018.

 

UAE free zones accommodate tens of thousands of foreign companies operating in various fields, including manufacturing industries, warehousing and storage services, commodities, media, information technology and others.