Manufacturing lifts Dubai's exports by 22% in 2009
Exports from Dubai (excluding free zone trade and re-exports) rose by $2.66 billion (Dh9.78 bn) in 2009 year-on-year, thus registering a 22 per cent rise over 2008, Dubai Statistics Centre figures showed.
Simultaneously, the emirate recorded a decline in imports and in re-exports. The export figures were led by jewellery and base metals, according to figures made available by Dubai Export Development Corporation (DEDC).
DEDC officials termed the rise a sign of the emirate emerging as a manufacturing hub. The rise comes as a result of forays into South American markets and initiatives like insuring exporting companies' accounts receivable, DEDC CEO Saed Mohamed Alawadi said.
"Dubai's exports have increased because its firms are globally competitive and able to penetrate new markets while extending the reach of existing ones. The data shows traditional markets are important but at the same time new markets have been developed," he said.
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