FOOD & BEVERAGES - Monthly Trend
Source - Dubai Custom
Sector Overview - FOOD & BEVERAGES
The global food & beverages trade (export + import) has raised to USD 3268.53 billion in 2020 increase of 1.62% compared to 2019 which was USD 3216.34 billion. The food & beverages trade represented 9.39% of the total global trade.
Dubai food & beverages trade (export + import) has raised to USD 19.24 billion in 2020, an increase of 2.22% compared to USD 18.83 billion in 2019. Dubai Food & Beverages trade represented 0.59% of the total global food & beverages trade.
Dubai food & beverages export was AED 21.2 billion in 2020 which accounts for 12.67% of Dubai export.
The top exported products were: Cigarettes; containing tobacco (HS Code: 240220), Vegetable oils; low erucic acid rape (HS Code: 151411); Dairy produce; milk and cream, concentrated, not containing added sugar (HS Code: 40221).
The top export destinations were: Somalia, Iraq, China, Libya and Sultanate of Oman.
Dubai food & beverages imports were AED 49.37 billion in 2020 which accounted for 7.19% of the total Dubai imports.
The top import products were: Cigarettes; containing tobacco (HS Code: 240220), Meat; of bovine animals, boneless cuts, frozen (HS Code: 20230) and Cereals; rice, semi-milled (HS Code: 100630).
The top import origins were: India, USA, Brazil, Canada, South Korea and Australia.
Dubai food & beverages re-exports were AED 14.45 billion in 2020 which accounted for 4.4% of the total Dubai re-export.
The top re-export products: Cigarettes; containing tobacco (HS Code: 240220), Meat; of bovine animals, boneless cuts, frozen (HS Code: 20230) and Whiskies (HS Code: 220830).
The top re-export destinations were: Iraq, Iran, Afghanistan, Sultanate of Oman, and Saudi Arabia.
The food & beverages sector contains Sections No. (01-02-03-04-05-06-07-08-09-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24).
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 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