Dubai's non-oil direct exports rise 23% in 2009

The growth rate of Dubai's non-oil direct exports over the past five years. (AFP)

Dubai's non-oil direct exports grew at an average rate of 23 per cent in 2009 compared to 2008. The value of the exported goods through all Dubai Customs entries amounted to Dh52.4 billion in 2009 as opposed to Dh42.6bn in 2008, while the growth rate over the past five years reached 47 per cent.

Ahmed Butti Ahmed, Executive Chairman of Ports, Customs and Free Zone Corporation and Dubai Customs Director-General, said the UAE adopted a strategy to diversify production base and economic activities besides reinforcing trade and economic relations with other countries. These steps played a major role in attracting investment, nourishing the worldwide trade movement and positioning the UAE as a hub for trade in the Middle East.

He said the strategic partnership and efficient co-operation between the Government and private sectors as well as implementing the government directives towards diversifying income sources and economic activities helped develop the local economy and expand the international trade movement in Dubai.

Statistics indicate that Dubai exports contributed to 71 per cent of the compound export rate in the UAE in 2008.

Ahmed said valuable and traditional metals and the products made from them, processed food products, plastics, rubber and natural metal products had a share of 87 per cent of the value of Dubai's direct exports in 2009. He said that precious metals and stones and their products constituted the biggest rate, accounting for 63 per cent of total exports. This sector has been topping the exports list since 2007 due to the increasing prices of gold in the local and international markets.

Normal metal products came at second place with eight per cent, whereas the processed food was placed third with seven per cent. Then came plastics and rubbery products with five per cent, whereas natural mineral products bagged the fifth place with four per cent.

For the second consecutive year, India topped the list of export markets in Dubai, with a share of 40.6 per cent and a value worth of Dh21.3bn of the exported goods. Switzerland came second, with a share of 16.6 per cent at Dh8.7bn. Then came Saudi Arabia, with a total value of Dh2bn (four per cent) followed by Pakistan with a share of 3.3 per cent at Dh1.7bn and Iran which ranked fifth with a share of 2.8 per cent at Dh1.48bn.

A more detailed view of the most significant goods and products Dubai exported to these five countries reveals that gold was mostly imported by India with Dh19.041 billion and 89.33 per cent worth of the compound exports. India also imported scraps and metals that can be melted with a Dh693.371m value and a percentage of 1.86. Other products had a value of Dh1.185bn by 5.56 per cent.

As for Switzerland, which came second in terms of Dubai Export, gold accounted for the largest export with Dh7.41bn and at 84.99 per cent. Scraps and scraps and metals that can be melted were the second most imported by Switzerland with Dh1.270bn and 14.56 per cent of exports followed by precious jewellery and metals with Dh25.98 million and 0.30 per cent.

The remaining products exported to Switzerland had a value of Dh12.575m and 0.14 per cent.

 

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