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Free zone exports surge to Dh225bn in 2017

By Wam

The UAE free zone exports amounted to AED225.5 billion in 201, a growth of 6.6 percent from the previous year, according to the UAE Central Bank's annual report.

The free zone exports account for 19.5 percent of the country's total exports during 2017, and comprise 16 percent of the trade balance.

UAE free zones now represent a robust catalyst for economic growth following the significant investments put by the country in developing their infrastructure, legislation and logistics services over the past decades.

The past three years saw some discrepancy in the free zone export volume, which reached AED221.3 billion in 2015, before getting down to AED211.4 billion in 2016 and then rebounded significantly last year in a way that reflects the boom witnessed on the non-oil sector.

There are 37 free zones operating in the UAE that leverage the country's positioning as a key regional trade and financial hub.