Dubai direct trade exchange with the world grew by 17.2 per cent during the first seven months of 2010 reaching Dh328 billion compared with Dh279b during the same period of 2009.
Ahmed Butti Ahmed, Executive Chairman of Ports, Customs and Free Zones and Dubai Customs Director General said that the indicators of Dubai trade with the external world, which include exporting, importing and re-exporting, recorded positive and promising rates from January to July 2010.
He said that the statistics issued by Dubai Customs revealed an enormous growth of 38.5 per cent approximating Dh39bn in the volume of Dubai exports during the first seven months of 2010. This trend reflects the competitiveness and accessibility of local goods in outside markets as well as external trader and consumer trust in Emirati goods which meet high quality international standards.
He also pointed out that Dubai imports grew by 13 per cent in the same period reaching Dh208bn as opposed to Dh184bn of the same period last year. This indicates a growing purchase power among residents of the emirate and the existence of attractive opportunities in the local trade sector; it as well indicates an increase in the demand on consumption goods and products by Dubai residents.
Butti added that the re-exporting activity grew noticeably in the first seven months of the current year amounting to Dh81.4bn with an increase of 20 per cent in comparison to the same period of last year which witnessed an amount of Dh67.6bn for re-exports.
He clarified that Dubai’s infrastructure supports export and import operations by offering its services in multiple customs centres and ports which reinforces the vast economic magnetism and investment in Dubai and facilitates smooth entry and exist movements of goods without any obstacle.
“Customs processes are flexible and convenient which allows the expansion of fair and legal trade practices and facilitates smooth trade flow of goods and individuals across the borders while maintaining society’s security and health,” he said.
Additionally and based on the issued figures, trade through the Free Zones recorded as well a noticeable growth during the first seven months of 2010 by 24.4 per cent with a total value of Dh181bn as opposed to the Dh145.4bn scored in the same period of 2009.
Statistics issued by Dubai Customs about the Free Zones trade activity also showed that Free Zones exports in Dubai rose by 30.2 per cent with a value of Dh79.2bn as compared to Dh61bn in the same period of 2009 whereas imports of the Free Zones scored around Dh102bn as compared to Dh84.6bn with 20.1 per cent of increase rate.
Ahmed Butti added that the growing business of Dubai Free Zones mirrors the rising economic attractiveness in Dubai to local and foreign investors and proves the success of the procedures and incentives set by the authorities involved in managing and operating the Free Zones.