Dubai’s non-oil foreign trade nears Dh1 trillion in first 9 months

Dubai has managed to contain the effect of global commodities and products’ drop down in prices and sustained a high-value foreign trade during the first nine months of this year.

Figures released by Dubai Customs showed that Dubai’s non-oil foreign trade in the first nine months of 2014 totalled Dh988 billion, with imports having the biggest share at Dh621 billion, exports at Dh86 billion and re-exports Dh280 billion.

Sultan Ahmed bin Sulayem, Chairman of DP World and Chairman of Ports, Customs, and Free Zone, said: “Dubai’s foreign trade scored steady growth in the first nine months of 2014 with top trading partners. China was Dubai’s top foreign trade partner during the first nine months of the year, with a trade value of Dh126 billion, up 27 per cent on the same period as last year, followed by India with Dh80 billion, the US with Dh61 billion, and Saudi Arabia - positioned 4th globally and 1st among Arab countries - with Dh40 billion. Dubai-Germany trade was up 25 per cent scoring Dh32.5 billion, while trading with Japan grew 13 per cent to a value of Dh31 billion.”

From January to September 2014, direct trade contributed Dh605 billion to Dubai’s total foreign trade value, while free zones contributed Dh367 billion, and the customs warehouses Dh16 billion.

Ahmed Mahboob Musabih, Director of Dubai Customs, said: “Dubai’s trade statistics for the first nine months of 2014 clearly show the emirate’s solid foothold as a regional and international trading and investment hub, as it maintained a high value despite the global decline in commodity prices. This reflects Dubai’s trading capability to increase the volume of foreign trade, including imports, exports and re-exports, to compensate for any drop in prices. In the first nine months of 2014, Dubai’s foreign trade neared Dh1 trillion, which further reinforces the diversity of the national economy structure.” 

Phones topped other commodities in Dubai’s non-oil foreign trade. Trading in phones recorded an 8 per cent growth, amounting to Dh129.4 billion. Meanwhile, Dubai’s trade of motor vehicles and individual-use cars, including station wagons and racing cars, climbed 31 per cent to score Dh48.6 billion.  On the other hand, computers recorded a 10 per cent growth at Dh40 billion, and petroleum oils grew 12 per cent and amounted to Dh30.5 billion.

Dubai’s foreign trade markets expanded to include partners’ from the five continents, spearheaded by Asia with a trade value of Dh610 billion, followed by Europe with Dh198 billion, then Africa with Dh89 billion, Dh72 billion trade volume with North America and Dh10 billion with South America, and Dh8 billion for Oceania – including Australia.
 

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