Dubai Q4 exports grow by 9.3% to Dh40.9bn

The total number of certificates of origin (COO) issued by Dubai Chamber during the fourth quarter of 2009 stood at 152,070, a rise of 1.7 per cent from the third quarter.

Dubai Chamber members' exports grew by 9.3 per cent to Dh40.9 billion in the fourth quarter of 2009 from Dh37.6bn in the previous quarter, according to a statistics released by Dubai Chamber of Commerce.

In the GCC, Saudi Arabia was the largest recipient of Dubai's export, in terms of value and volume, in the third and fourth quarters of 2009.

Dubai exports and re-exports) to a large number of countries. In recent years, exports have been increasing on the back of an extensive foreign trade network offering traders a large array of potential global marketing opportunities for a diverse portfolio of goods.

On the whole, given Dubai's strategic location, as well as its cost and market advantages that it has developed in recent years has led it to establish an ideal and attractive investment climate for both domestic and foreign businesses alike. This is clearly reflected in Dubai's COO reading for the fourth quarter of 2009 which suggests that the impact of the global economic downturn has not been felt on Dubai's export sector.

The 2010 Economic Freedom Index conducted by the Heritage Foundation suggests that the ease of doing business in the UAE has improved reflecting positive market sentiment and an overall increase in risk appetite. The UAE scored an economic freedom index of 67.3 out of 100, making its economy the 46th freest, out of 179 countries, in the 2010 Index. This is an improvement of 2.6 index points than in 2009 which is primarily down to an increase in business and investment freedoms as well property rights.

 

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