BASE METAL - Monthly Trend
Source - Dubai Custom
Sector Overview - BASE METAL
The global base metal trade (export + import) has reduced to USD 2973.12 billion in 2019 decrease of 5.2% compared to 2018 which was USD 3135.57 billion. The base metal trade represented 7.87% of total global trade.
Dubai's base metal and articles trade (export + import) has reduced to USD 17.3 billion in 2019, a decrease of 3.1 % compared to USD 19.87 billion in 2018. Dubai's base metal and articles trade represented 0.17% of the total global trade.
Dubai base metal and articles exports were AED 27.69 billion in 2019 which accounts for 17.9% of Dubai export.
The top exported products were: Aluminium; unwrought, alloys (HS Code: 760120), Ferrous waste and scrap (HS Code: 720449) and Copper; wire, of refined copper (HS Code: 740811).
The top export destinations were: India, Japan, USA, Pakistan and Sultanate of Oman.
Dubai base metal and articles imports were AED 36.04 billion in 2019 which accounted for 4.5% of the total Dubai imports.
The top import products were: Iron or non-alloy steel; (not in coils), flat-rolled, of a width 600mm or more (HS Code: 720851), Iron or non-alloy steel; bars and rods, hot-rolled, hot-drawn or hot-extruded (HS Code: 721420) and Iron or steel; structures and parts thereof (HS Code: 730890).
The top import origins were: China, India, Sultanate of Oman, USA and Germany.
Dubai base metal and articles re-exports were AED 8.64 billion in 2019 which accounted for 2.1% of the total Dubai re-export.
The top re-export products: Nickel; unwrought, not alloyed (HS Code: 750210), Iron or steel; articles (HS Code: 732690) and Iron or steel; threaded screws and bolts (HS Code: 731815).
The top re-export destinations were: Iraq, Sultanate of Oman, Saudi Arabia, China and India.
The base metal sector contains Sections No. (72-73-74-75-76-77-78-79-80-81-82-83-26).
All ranks not including free zones.
Source - Dubai Custom
Sector Competitive Landscape
Source - Dubai Custom - UN Comtrade
Note : Forecast from 2020 based on historical values. It’s taking into account the latest available global trade development forecasts published by United Nations Conference on Trade and Development (UNCTAD) and the World Trade Organization (WTO), which expect the value of global trade to finish the year 2020 at about 9% below the level of 2019 due to the economic impact of the COVID-19 pandemic. Furthermore, they predict merchandise trade to grow at a rate of around 7% in 2021. From 2022 on, the global average growth rate is forecasted to be at around 3-4%.
Source: Dubai Customs - KCORP