Re-export activities rise 633% to $44.4 billion
The value of the UAE's re-exports activities rose from $6 billion (Dh22bn) in 1999 to $44.4bn in 2008, equal to a growth rate of 633 per cent, according to a new study.
And this increased the sector's contribution to the country's foreign trade from 18 per cent to 21 per cent over the same period, according to the report by the Ministry of Foreign Trade.
The value of the sector grew from $1bn to $44.4bn between 1981 and 2008 – a rate of growth of 4,184 per cent. And this pushed up the sector's contribution to foreign trade from 9.3 per cent to 21 per cent in the same period.
While the figures highlight the considerable growth achieved by the sector, the report said the current period requires careful planning to deal with the impact on global trade of the international financial crisis.
The ministry underlines the importance of looking for alternatives to reinvigorate the sector, finding new markets and monitoring international markets.
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