Dubai’s foreign trade in 2011 surpassed the 1 trillion dirhams mark, a first in the emirate’s history, Dubai Customs said on Wednesday. The authority added that the total of AED1.1trn ($299bn) represented an increase of 22% compared to the AED902bn achieved in 2010.
The figures represented the “robust UAE economy in general, and Dubai in particular” Ahmed Butti Ahmed, director general of Dubai Customs, said.
He added that all direct trade indicators contributed to “significant growth” last year compared to the year before.
Imports registered an increase of 21% to AED442bn ($120.33bn) while exports rocketed 44% to AED98bn ($26.68bn). Re-export trade went up by 18% to the tune of AED161bn ($43.83bn).
India emerged as the most important import, export and re-export trading partner with a trade volume of AED206bn ($56.08bn), 19% of the overall Dubai foreign trade.
China stood at number two position with imports amounting to AED100bn ($27.22bn), followed by the US, Japan and Germany.
Dubai’s direct trade with GCC countries grew 28% in 2011 to AED28.4bn ($7.73bn), with Saudi Arabia the top trading partner followed by Kuwait, Oman, Qatar and Bahrain, the director general disclosed.
Gold, diamonds, precious stones, metals and automobiles were the most important products that also formed the bulk of Dubai’s trade.