Customs transactions in Dubai skyrocket 60% to 4m in Q1, 2020
Customs transactions in Dubai rose sharply by 60 percent to reach 4 million in Q1, 2020, from 2.5 million in the corresponding quarter last year, reflecting the resilience of Dubai economy and its ability to cope with changes and challenges.
Declarations took the lion’s share of transactions completed by Dubai Customs in Q1 this year at 3.4m declarations compared to 1.9m in the corresponding quarter last year, which translates in 79 percent growth, Dubai Customs said on Sunday.
They were followed by payment requests at 266,000 compared to 261,000 (2% increase). The third in the list was document and report requests which grew 5% to 147,000 compared to 140,000 in Q1, 2019. Booking inspection date saw 106,000 requests, and business registration saw 74,000 requests to rise 100% from 37,000 in Q1, 2019.
Sultan bin Sulayem, DP World Group Chairman & CEO and Chairman of Ports, Customs and Free Zone Corporation, said, "We have a very strong customs structure in Dubai manifested in a 60 percent increase in customs transactions in a very hard time. This puts Dubai as one of the best customs and logistics hubs in the world, and a very attractive environment for foreign investments and businesses. Thanks to a number of government strategies and stimulus plans, Dubai remains credible and trustful in the eyes of investors and businesses worldwide."
Bin Sulayem noted that the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, have strengthened Dubai’s resilience despite the current challenges caused by the outbreak of the coronavirus.
"The noticeable growth in transactions at Dubai Customs despite the current challenges is a very positive indicator of Dubai’s sustainable and resilient economy," said Ahmed Mahboob Musabih, Director-General of Dubai Customs.
"Thanks to outstanding and cumulative experiences we have at Dubai Customs, we were able to facilitate legitimate trade and the world’s supply chain. We have invested in very advanced smart services and products, and now we are reaping what we have sown."
Dubai Customs’ services were highly applauded by the World Customs Organisation as 99 percent were completed through smart and online channels. Around 2.26m transactions were done through smart platforms making 56.6 percent of the total number, and 1.7m transactions were completed through online applications making 42.3 percent of the total. Only 44,000 transactions were done manually through the service counters, which makes 1 percent of the total number.
News Source : http://wam.ae/en/details/1395302836083