Dubai Customs: AED67b airborne gold, diamonds trade from 1st March to 30th June

Dubai Customs: AED67b airborne gold, diamonds trade from 1st March to 30th June

DUBAI, 21st September, 2020 (WAM) -- Dubai Customs has announced that the emirate's non-oil trade continued its growth against the current crisis. Being a hub for gold and diamond trading and making, Dubai made AED67.1b (601.4) from gold and diamond air-cargo trade between March and the end of June 2020.

Statistics released by Air Customs Centre Management at Dubai Customs show that the diamond and gold trade from 1st March to end of June comprised AED35.6b of imports (428.8 tons), AED38.5m (877 kilo grams) transferred into the free zone, AED471.7m (2.1 tons) of re-exports "transit", AED29.4b (161.2 tons) of exports, and AED1.4b (8.3 tons), which entered the free zone.

The Air Customs Centre Management also completed 31,590 transactions including 17,169 import, 12,293 export and 89 re-export transactions.

In terms of value, gold and jewelry made AED5.6b, raw diamonds generated AED5.7b, polished diamonds AED3.6 b, diamonds powder AED503,300, gold powder AED31.3m, gold bullions AED51.7b, gold coins AED16m and gold medallions AED240.2 m.

"Dubai Customs contributes to a vision in which Dubai aspires to maintain its position as the city of gold and diamonds and a strategic hub for the trade of these precious goods," said Ahmed Mahboob Musabih, Director General of Dubai Customs. "Dubai Customs provides facilitated and streamlined services to the gold and diamonds sector and business groups. We have changed the stereotypical image about a customs organisation from just a law enforcement body to a friendly supportive organisation."

"Our regular meetings at the Dubai Customs Consultative Council discuss the latest trends and issues within our community of business groups including health and food security, gold trade and passenger traffic. We have implemented a number of initiatives during the spread of the coronavirus to ensure a Dubai streamlined external trade and a sustainable business sector, thanks to a generous stimulus package which Dubai Government rolled out in support of businesses in the emirate."