Non-oil trade between Dubai and outside world went up by 18 per cent during the first half of the current year, reaching more than Dh279.2 billion compared to Dh237.6bn over the same period of last year.
Ahmed Butti Ahmed, Executive Chairman of Dubai Ports, Customs and Free Zone, and the Director-General of Dubai Customs, emphasised that the statistical data issued by Dubai Customs Statistics Department has showed positive indications for the recovering trade in the emirate, noting that the trade exchange between Dubai and the other countries around the world grew at an average estimated rate of 17 per cent in the past five years.
He highlighted that the total Dubai direct exports to global markets set a record by the end of the first half of this year compared to the same period of the past five years, reaching Dh32.8bn against Dh23.6bn in the same period of the past year.
He explained that the total value of Dubai imports during the first half of the current year rose to Dh177.4bn – up by 13 per cent in the same period of the last year with Dh156.5bn, which indicates availability of a growing power of purchase in Dubai and lucrative opportunities for many companies seeking to enhance base of trades activities in the UAE markets or through the neighbouring markets.
He added that re-exports have increased by 20 per cent in the first six months of the current year – at Dh69bn against Dh57.5bn during the same period of the past year.
He also said that the export support programme, the effort made for opening new markets, joint ventures concluded with many countries around the world, the strategic geographical situation and other factors have all together paved the way for Dubai to lead a vital role in this sector.
GCC TRADE
Dubai trade exchange with the GCC countries grew an average rate of 10 per cent during the first half of 2010 reaching Dh11 billion as compared to Dh10 billion of the same period last year.
Re-exports with the GCC amounted to Dh4.8bn by the end of the first half of 2010 while exports estimated as Dh2.3bn and the imports at Dh3.7bn.
He said that the rise in Dubai trade exchange with the GCC is considered an outcome of the economic integration among countries of the region which is demonstrated in establishing the free trade zone in 1983, followed by the unification of customs in 2003 and the founding of the GCC market in 2008.
He added that the growing trade activity among the GCC countries is in line with the aspirations of the GCC leaders who give much attention to achieving economic integration as well as earning profits which benefit the GCC citizens besides benefiting from the huge economic aspects, coherent systems and the private sector in these countries.
Saudi Arabia topped the list of trade exchange between Dubai and the GCC with 36 per cent with a value of Dh4bn of the first half of this year. Kuwait came second with Dh2.1bn value of exchange, then Oman with Dh2bn, Qatar with Dh1.6bn and Bahrain Dh1.2bn value of exchange respectively.
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