Dubai Customs announced a record growth in Dubai’s direct trade exchange with the world at the end of the first annual quarter of 2011 34 %.
This year the trade exchange stood at USD 49 billion (183 billion dirhams), compared to USD 37 billion (136 billion dirhams) for the same period last year.
India remained Dubai’s largest direct trade partner with bilateral transactions between the two sides amounting to over USD 44.3 billion (63 billion dirhams).
Dubai’s imports from India stood at USD 8.16 billion (30 billion dirhams), while the re-exports from Dubai to India were estimated at USD 6.17 billion (22.68 billion dirhams). The value of goods and products exported to India stood at over USD 2.72 billion (10 billion dirhams).
In terms of the export destination for Dubai, Switzerland comes second place, followed by Saudi Arabia.
Statistics showed a significant rise of 16 per cent in the weight of the exchanged goods compared to the previous year.
Dubai exports also showed an increase with the export figures reaching Dh22 billion from Dh15 billion. The weight of the goods and products issued by Dubai to the international markets also exceeded 23 per cent.
The volume of imports into Dubai was over eight billion tonnes during the first three months of this year. This reflects the purchasing power and an increase of local demand on the goods and products and recovery of trade activities in the local markets.
Ahmed Butti Ahmed, the Executive Chairman of Ports, Customs and Free Zone Corporation, said: “The achieved growth indicators highlight an economic sustainable growth in Dubai and a clear emphasis on the productive value added sectors in boosting the GDP per capita, luxury and diversify income resources. The growth accompanied all walks related to the direct trade exchange which besides exporting included re-exporting and importing.” He also added “the recorded growth rate in the re-exporting processes during the first three months of 2011 was close to the growth rates of the exports which amounted to 44% with a value exceeding AED 49 billion as compared to AED 34 billion.”