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Trade Service
A new report released today by DMCC, Dubai's multi-commodities trading centre, shows that despite the economic challenges posed by the pandemic, global trade will rebound
this year after showing remarkable resilience in 2020.
The report highlights that global trade will underpin strong global economic growth in 2021 and beyond, with the U.
S
.
and Chinese leading the way.
This increase is the exact opposite of the previous World Trade Organization estimate of
double-digit declines per year (between 13 and 32 per cent).
Dubai, a major trading hub, rebounded sharply in 2020 despite the economic challenges brought about by the pandemic, with particularly strong trade volume growth in the second half of the year, up 6%
year-on-year.
Dubai's overall export value grew by 8% in 2020,
a senior official said.
"In 2020, the outlook for global trade is bleak as the world grapples with the impact of
the pandemic.
The current situation is much more optimistic, as evidenced by our latest findings," noted
Ahmed Bin Sulayem, executive chairman and CEO of DMCC.
"While global trade has shown its resilience, it is also undergoing
profound change.
Ever-changing technologies, changing consumer behaviors, the drive to address climate change, and geopolitics will all be key factors
in shaping trade in the coming years.
”
A new report released today by DMCC, Dubai's multi-commodities trading centre, shows that despite the economic challenges posed by the pandemic, global trade will rebound
this year after showing remarkable resilience in 2020.
The report highlights that global trade will underpin strong global economic growth in 2021 and beyond, with the U.
S
.
and Chinese leading the way.
This increase is the exact opposite of the previous World Trade Organization estimate of
double-digit declines per year (between 13 and 32 per cent).
Dubai, a major trading hub, rebounded sharply in 2020 despite the economic challenges brought about by the pandemic, with particularly strong trade volume growth in the second half of the year, up 6%
year-on-year.
Dubai's overall export value grew by 8% in 2020,
a senior official said.
"In 2020, the outlook for global trade is bleak as the world grapples with the impact of
the pandemic.
The current situation is much more optimistic, as evidenced by our latest findings," noted
Ahmed Bin Sulayem, executive chairman and CEO of DMCC.
"While global trade has shown its resilience, it is also undergoing
profound change.
Ever-changing technologies, changing consumer behaviors, the drive to address climate change, and geopolitics will all be key factors
in shaping trade in the coming years.
”
