DIEZ trade surges 19% to Dhs336 billion in 2024

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 Dhs336 billion, a 19% increase compared to 2023. DIEZ also achieved a 13.7% share of Dubai’s non-oil trade, its highest-ever contribution to date, sustaining growth for the fourth straight year.

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, hailed DIEZ’s 2024 results saying, “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.

By generating unique value for investors, businesses and entrepreneurs across sectors, Dubai’s free zones have created a unique model of sustainable growth that has redefined economic and trading competitiveness both regionally and globally. Furthermore, DIEZ’s latest results show that the Dubai Economic Agenda D33 is accelerating the expansion of our trade ecosystem, reinforcing Dubai’s place among the world’s foremost urban economies.”

DIEZ’s growth was driven by a significant expansion in trade across the economic zones under its umbrella, which include the Dubai Airport Free Zone, Dubai Silicon Oasis, and Dubai CommerCity. The results were supported by increased flows of goods and services, coupled with strengthened partnerships with key global markets, reinforcing DIEZ’s role as a central driver of Dubai’s non-oil trade growth.

These results confirm the Authority’s continued strategic role in supporting the emirate's position as a global hub for trade and logistics. DIEZ’s performance also coincided with Dubai achieving a record high in non-oil foreign trade last year.

In terms of volume, DIEZ trade rose by over 28% in 2024 reaching 444,300 tons, compared to the previous year, which recorded 346,700 tons. This increase reflects real growth in the movement of goods alongside higher trade values. 

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, Vice President and Prime Minister of the UAE and Ruler of Dubai, to double the size of Dubai’s economy and establish it among the world’s top three urban economies by 2033.

"In the years ahead, we are confident that DIEZ will continue to make steady strategic progress, enhancing its contribution to Dubai’s trade and reaching new heights of leadership across sectors.”

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 across all economic zones under the Authority’s umbrella, further strengthening Dubai’s competitiveness on the global trade map.”

Trade in key sectors reached its highest levels in 2024, with the machinery, electrical and electronics sectors accounting for approximately 72% of DIEZ’s total trade, achieving a growth of 17%. The precious stones, precious metals, jewelry and ornaments achieved a remarkable growth of 33%, contributing to approximately 22% of the total. Together, these two sectors represented around 94% of DIEZ’s overall trade.

DIEZ’s strong performance in 2024 demonstrates its resilience in the face of global challenges and its agility in adapting to ongoing economic and commercial shifts. This success is driven by advanced infrastructure, seamless integration across its economic zones, and innovative solutions and services that enhance supply chain efficiency — all of which reinforce its role as a vital contributor to the national economy and a key driver of Dubai’s competitiveness at regional and international levels.

WAM