Import Export Business Establishment: A Guide for Businesses in UAE

Dubai's primary trading commodities used to be resources such as oil and natural gas. Today, the city is a vital import and export hub for many other products. With its incredible capacity for growth and development, the city has quickly become the leading center for imports and export in UAE. If you are interested in the shipping business in the city, there are certain factors you need to keep in mind.

Major Exports in the UAE

The leading exports of the UAE continued to be gold, aluminum, oils, and cigarettes, which held their prominent positions in 2022. Iron exports experienced the highest growth during the year, followed by jewelry. Non-oil national exports contributed 16.4% to the country's total foreign trade.

The following products are considered to be the top exports in the UAE:

·???????Diamonds.

·???????Petroleum (crude and refined).

·???????Gold.

·???????Broadcasting equipment.

·???????Pearls and other precious stones.

·???????Salt.

·???????Stone

·???????Cement.

·???????Plastics.

·???????Plastic items.

·???????Copper.

·???????Aluminum.

Major Imports & Re-export in the UAE

The UAE deals mainly in the following imports:

·???????Cars.

·???????Gold.

·???????Television equipment.

·???????Diamonds.

·???????Textiles.

·???????Leather.

·???????Metals.

·???????Base metals.

·???????Dairy products.

·???????Poultry products.

·???????Footwear.

·???????Minerals.

·???????Aircraft.

·???????Spacecraft.

The top re-export items for the UAE in 2022 were telephones and diamonds, with significant growth seen in aircraft parts, petroleum oils, headphones, and car parts as well. Additionally, the country's imports reached a new record in 2022, exceeding AED 1250 billion for the first time, and reaching AED 1252.4 billion, with a remarkable 22% increase.

Registration with Dubai Customs Is Necessary For Import and Export in UAE

Before dealing with UAE exports and imports, you must register with Dubai Customs first and acquire a code from them. You have to submit the necessary documents to the Customs Authority. All of this can be done online, whether you are opening a business on the mainland or in a free zone.

To be eligible for this business in Dubai, for instance, you need to ensure the following:

·???????The commodities you import/export should not differ from those mentioned in the license.

·???????You must submit the code when you ship goods.

·???????The goods must reach their destinations within 72 hours after they are shipped or acquired.

All of these requirements also apply to free zone companies. What is excellent about these organizations is that they are not subject to duties from customs. Several regions also ease import and export operations for trading companies. You may also need additional documents depending on your location or the type of trading you choose. Special goods, for instance, have different protocols compared to standard products.

Why Opening an Import/Export Company in the UAE Is a Good Idea

With easy access to global trade routes and markets, the UAE is at the heart of the import and export industry for several nations. Take advantage of the tax-free haven and trading sector by establishing a shipping or warehouse company nationwide.

Without business consultants familiar with Dubai's import/export regulations, licenses, and dos and don'ts in the trading sector, you may incur heavy penalties or experience costly shipping delays. Contact our consultants at Business Prime for a consultation today.