Dubai trade up 19% to Dh475bn

India remained on top of the list of Dubai's business partners, says Dubai Customs (FILE)

Dubai’s trade with the world jumped 19 per cent in the first ten months of this year to Dh475 billion compared to Dh400bn for the same period last year, according to statistics released by Dubai Customs on Sunday.

Ahmed Butti Ahmed, the Director General of Dubai Customs and CEO of the Ports, Maritime and Free Zone Authority said Dubai's direct exports totalled more than Dhs56.5bn during the first ten months in this year against Dhs41bn in 2009 - a rise of 36 per cent.

Re-export operations have witnessed a record rise as well. They totalled Dhs118bn during the first ten months of this year compared to Dhs96bn during the same period last year.

Dubai imports totalled more than Dhs300bn during the first ten months of this year, a rise of 14 per cent compared to the same period last year which totalled Dhs262bn which means that trade movement is flourishing, liquidity is growing, purchasing power improving.

Statistics released by Dubai Customs included free zone trade which grew by 22 per cent during the first ten months of 2010 totaling Dhs265bn compared to Dhs217bn for the same period last year. Trade of customs stores rose by 110 per cent totalling Dhs2.7bn by the end of the first ten months of 2010 compared to Dhs1.3bn for the same period of 2009.

Meanwhile, India remained on top of the list of Dubai's business partners, according to figures released by the end of October 2010. The value of total exchanges between Dubai and India has mounted to Dhs123bn which makes 26 per cent of total Dubai trade exchanges with the world. Dubai imports from India valued Dhs56.4bn, and exports valued Dhs24bn. Re-export operations totaled Dhs42.2bn.

In imports, China came second after India. Dubai's imports from China within the first ten months of 2010 totalled Dhs37bn. China is followed by the US with more than Dhs23bn of exports to Dubai.

In terms of exports, Switzerland is the second biggest importer from Dubai after India with a value of approximately Dhs10bn, followed by Saudi Arabia which came second with more than Dhs2bn.

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