Key Sectors

Total Import   (2020)

(B/AED)

Total Export   (2020)

(B/AED)

Total Re-Export   (2020)

(B/AED)

Top Partner   (2020)

(Total Trade)

Top Product (2020)

Total Trade

Surplus / deficit   (2020)

(B/AED)

GOLD & JEWELRY - Monthly Trend

Source - Dubai Custom

Sector Overview - GOLD & JEWELRY

The global gold & jewelry trade (export + import) has raised to USD 1383.61 billion in 2020, an increase of 5.8% compared to 2019 which was USD 1307.29 billion. The gold & jewelry trade represented 3.97% of total global trade.

Dubai gold & jewelry trade (export + import) has decreased to USD 74.37 billion in 2020, a decrease of 0.12% compared to USD 74.46 billion in 2019. Dubai gold & jewelry trade represented 5.38% of the global gold & jewelry trade.

Dubai gold & jewelry export was AED 82.77 billion in 2020 which accounts for 49.46% of Dubai export.

The top exported products were Metals; gold, non-monetary (HS Code: 710812). Jewellery; of precious metal (excluding silver) (HS Code: 711319). and Waste and scrap of precious metals (HS Code: 711299).
The top export destinations were:  Switzerland, Turkey, Hong Kong, Italy, India, Saudi Arabia.

Dubai gold & jewelry imports were AED 189.95 billion in 2020 which accounted for 27.68% of the total Dubai imports.
The top import products were: Metals, gold, non-monetary (HS Code: 710812). Jewellery; of precious metal (excluding silver) (HS Code: 711319), and Diamonds; non-industrial, unworked or simply sawn (HS Code: 710231)
The top import origins were: Guinea, India, South Africa, Mali, Egypt.

Dubai gold & jewelry re-exports were AED 55.85 billion in 2020 which accounted for 17% of the total Dubai re-export.
The top re-export products were: metals; Diamonds; non-industrial, unworked or simply sawn (HS Code: 710231), Jewellery; of precious metal (excluding silver) (HS Code: 711319), and Diamonds; non-industrial, (other than unworked or simply sawn (HS Code: 710239).
The top re-export destinations were: India, Belgium, Hong Kong, Switzerland and USA.

 

Note:

The gold & jewelry sector contains “Natural, cultured pearls; precious, semi-precious stones; precious metals, metals clad with precious metal, and articles thereof; imitation jewelry; coin” section in HS classification (Section No. 71).

All ranks not including free zones.

 

Source - Dubai Custom

Sector Competitive Landscape

Code
Dubai Trade ()
(2015-2020)
Dubai
Key Markets

Source - Dubai Custom - UN Comtrade

Trade Forecast

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 2020 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