Key Sectors

Total Import   (2019)

(B/AED)

Total Export   (2019)

(B/AED)

Total Re-Export   (2019)

(B/AED)

Top Partner   (2019)

(Total Trade)

Top Product (2019)

Total Trade

Surplus / deficit   (2019)

(B/AED)

GOLD & JEWELRY - Monthly Trend

Source - Dubai Custom

Sector Overview - GOLD & JEWELRY

The global gold & jewelry trade (export + import) has raised to USD 1306.4 billion in 2019, an increase of 2.4% compared to 2018 which was USD 1276.2 billion. The gold & jewelry trade represented 3.46% of total global trade.

Dubai gold & jewelry trade (export + import) has raised to USD 74.46 billion in 2019, an increase of 9.9% compared to USD 67.70 billion in 2018. Dubai gold & jewelry trade represented 0.72% of the total global trade.

Dubai gold & jewelry export was AED 61.46 billion in 2019 which accounts for 39.7% 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 Metals; gold, non-monetary, powder (HS Code: 710811).
The top export destinations were:  Switzerland, India, Turkey, Sultanate of Oman and Singapore.

Dubai gold & jewelry imports were AED 211.57 billion in 2019 which accounted for 26.6% 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: India, Mali, Hong Kong, Guinea and South Africa.

Dubai gold & jewelry re-exports were AED 101.85 billion in 2019 which accounted for 24.2% of the total Dubai re-export.
The top re-export products were: Jewellery; of precious metal (excluding silver) (HS Code: 711319), metals; Diamonds; non-industrial, unworked or simply sawn (HS Code: 710231) and Diamonds; non-industrial, (other than unworked or simply sawn (HS Code: 710239).
The top re-export destinations were: Switzerland, India, Hong Kong , Belgium 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 ()
(2015-2019)
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 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