Dubai posts record H1 trade figures

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dubai world port
A view of Dubai World port, one of the world’s largest and busiest ports. Photo – Samantha Appleton/Noor/CNN

Dubai’s non-oil foreign trade hit a record AED602 billion ($163.9 bn) during the first half of 2012, registering a 12% increase compared to the same period last year. Dubai’s trade totalled AED 537 billion during the first half of 2011, latest statistics from the Dubai Customs revealed.

Ahmed Butti Ahead, executive chairman of Ports, Custom and Free Zone Corporation, and Dubai Customs director general, said Dubai’s imports grew by 11.5%, up to AED 357 billion. He added that the value of exports and re-exports hit AED 245 billion, up 13% over same period last year.

The report said that Dubai’s foreign trade sector has broken the AED 600 billion mark for the first time and represents a major rebound from the AED 361 billion seen in H1 2009 at the height of the global economic crisis.

Unwrought, worked and semi-manufactured gold topped the list of Dubai’s imports during the first half of 2012, followed by jewellery, diamonds, telecom equipment and automobiles.

Gold was also ranked as the top exported product from Dubai during H1, followed by diamonds, jewellery and precious metals.

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