Dubais DIEZ Trade Hit Record $91.5bn In 2024, Up 19 Per Cent

The Authority also posted its highest-ever share of Dubai’s non-oil trade at 13.7 per cent, marking a fourth consecutive year of growth.

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, said: “Dubai continues to consolidate its role as a major trading centre at the heart of global commerce, in line with the strategic vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

“DIEZ’s 2024 performance is not only a testament to our city’s robust economic fundamentals but also to its ability to constantly innovate, unlock new avenues for growth and transform challenges into opportunities.”

He added that Dubai’s free zones have “created a unique model of sustainable growth that has redefined economic and trading competitiveness both regionally and globally,” while the Economic Agenda D33 continues to accelerate the emirate’s expansion as a global trading hub.

Dubai Integrated Economic Zones Authority

DIEZ encompasses

• Airport Free Zone
• Silicon Oasis
• CommerCity

Growth in 2024 was fuelled by expanded flows of goods and services, strengthened partnerships with key global markets, and advanced infrastructure that bolstered supply chain efficiency.

Trade volumes rose by 28 per cent year-on-year to 444,300 tonnes, compared with 346,700 tonnes in 2023.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, said: “DIEZ’s remarkable performance in 2024, which marks a fourth consecutive year of growth, reflects Dubai’s rising stature as a global economic and trade hub and a preferred choice for international companies and investors.

“This progress also reinforces its vital role in supporting the objectives of the Dubai Economic Agenda D33, in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, to double the size of Dubai’s economy and establish it among the world’s top three urban economies by 2033.”

Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, said: “The exceptional results achieved by DIEZ in 2024, alongside its comprehensive growth and continued success across its three economic zones, serve as a strong motivation to pursue even greater accomplishments year after year. We remain committed to advancing our journey of progress and innovation, further strengthening Dubai’s competitiveness on the global trade map.”

Sector highlights

Trade in machinery, electrical and electronics accounted for around 72 per cent of DIEZ’s total trade in 2024, growing by 17 per cent year-on-year.

The precious stones, metals, jewellery and ornaments sector recorded a 33 per cent increase, contributing 22 per cent of overall trade. Together, these two sectors represented approximately 94 per cent of DIEZ’s total trade.

DIEZ’s strong 2024 performance underscores its resilience amid global challenges and its agility in responding to shifting economic conditions. Advanced infrastructure, integration across zones, and innovative solutions have positioned the Authority as a central driver of the emirate’s non-oil trade and a key contributor to the national economy.