Dubai’s trade crosses Dh814bn
Dubai's non-oil total trade has exceeded Dh814 billion at the end of third quarter in 2011, an increase by 23 per cent compared to the same period of 2010 which reached Dh661 billion.
Ahmed Butti Ahmed, the Executive Chairman of Ports, Customs '&' Free Zone Corporation, and Director-General of Dubai Customs, said that these great results of Dubai foreign trade reflect UAE's strong and dynamic economy.
"There are certain factors that stood behind this growth. The UAE market accessibility to international markets, and the growing purchasing power have all contributed to the increase in the imports volume while the distinctive higher quality of UAE product together with the support to the national industry and facilities given to exporters have played a prominent role in increasing exports and opening new markets.”
He explained that Dubai non-oil direct foreign trade has also achieved good growth in the first nine months of 2011 compared to same period of 2010 at Dh523bn. Free zone trade also exceeded Dh287bn compared to Dh234bn in the same period last year, and the warehouse trade achieved Dh4bn compared to Dh2.4bn.
According to recent statistics on Dubai direct foreign trade issued by Dubai Customs, the growth in the first nine months of the current year increased 21 per cent (Dh326bn) in imports, 43 per cent (Dh72bn) in exports, and 18 per cent (Dh125bn) in re-exports compared to same period in 2010.
"Dubai sophisticated modern infrastructure, the advanced services at sea and air ports together with the customs facilitations available to all land, sea and air customs ports have contributed considerably to achieve such positive results in Dubai foreign trade," Butti said.
India topped the list of exporters to Dubai with Dh66bn or 20.25 per cent of all other countries. China came second at Dh35.5bn, or 10.9 per cent, followed by US with Dh27bn or 8.3 per cent, Japan Dh12.9bn or 3.95 per cent, UK Dh12.65 or 3.88 per cent. In all, the top five exporting countries to Dubai exceeded Dh154bn which is more than 47 per cent.
India also came first in importing countries from Dubai to exceed Dh28bn, followed by Switzerland at Dh9.8bn, and Saudi Arabia at Dh2.9bn. As for re-exports, India again topped the list with Dh44.3bn, which made more than 35 per cent of total re-exports.
Dubai's trade with the GCC countries grew as well. Oman topped the list of exporters to Dubai with Dh2.4bn, followed by Saudi Arabia with around Dh2bn, and Kuwait and Bahrain third with around Dh865m for each. In exports, Dubai's biggest importer is Saudi Arabia at Dh2.9bn, followed by Kuwait at Dh1.9bn, and Bahrain at about Dh610m. Kuwait topped the list in re-exports with Dh2.86bn, Saudi Arabia came second with Dh2.66bn, and Oman with around Dh1.03bn.
As of imports, the most important products constituting Dubai direct trade movement included unwrought, worked and semi-manufactured gold, which came on the top of the list amounting Dh58.9bn during the Jan-Sept. 2011 period, followed by diamonds at Dh48.9bn, and jewelleries and precious metals occupied the third place at Dh17bn. In the fourth place came motor cars and vehicles at Dh13.4bn, followed by electrical apparatus for line telephony or line telegraphy at Dh6.8bn.
Gold also topped the list of Dubai exports at Dh45bn followed by petroleum oils and oils obtained from bituminous minerals at Dh2.8bn, then comes articles of jewellery with a value of Dh1.5bn.
In re-exports, diamonds took the lead with Dh52.3bn, followed by motor cars and vehicles at Dh5.8bn, then articles of jewellery at Dh4.3bn.
Butti concluded that all of these figures and indicators highlight an economic sustainable growth in Dubai and a clear emphasis on the productive value added sectors manifested in the highly developed infrastructure and the advanced set of legislations which create equal and competitive opportunities for the business community.
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