Dubai Non-Oil Foreign Trade rises by 13% in 2012

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Jebel Ali Port in Dubai.
Jebel Ali Port in Dubai. Photo-DP World

Dubai reported a 13% increase in non-oil foreign trade in 2012 valued at Dhs1.235 trillion compared with Dhs1.089 trillion in 2011, resulting from an increase in exports value by 47% to Dhs163bn and rise in imports by 12% to Dhs737bn. Re-export trade also registered a growth by 5% to Dhs334bn.

His Highness Sheikh Hamdan Bin Mohammed Bin Rashid AL-Maktoum, Crown Prince of Dubai, commented on the results, “As Dubai continues to diversify and expand its economic base, trade still remains to be one of the basic pillars of the entire economic foundation for the Emirate. While Dubai’s trend of bolstering its position as the world’s capital for the Islamic economy, the business role is growing to be a mainstream of this trend, particularly, within availability of great growing markets opportunities around Islamic world.”

Sheikh Hamdan expressed his satisfaction with the accomplishments of the business sector, especially at the level of foreign trade, ascertaining that the sons of the homeland have demonstrated unrivaled capabilities in the implementation of systems and solutions which ensure the best local economic outcomes paralleling challenges underway in the global marketplace.

Shaikh Hamdan further explained that Dubai’s sustainable growth is possible, due to strong and balanced relations other nations worldwide and interdependent government backbone support to the business sector.

In addition, Dubai’s robust and highly developed infrastructure continues to modernize and update in compliance with world-class standards, ensuring strong performance for the future — as indicated by Dubai’s rapid growth last year.

According to Ahmed Butti Ahmad, Director General of Dubai Customs direct trade constituted about 65% of Dubai`s total non-oil foreign trade amounting to Dhs808bn, while free zones made up 34% worth of Dhs417bn and customs warehouses trade recorded Dhs10bn, representing 1% of the total non-oil foreign trade.

Trade exchange continued to grow in all transport modes – air cargo amounted to Dhs628bn, sea shipping Dhs442bn and land transportation Dhs165bn.

“This steady growth of Dubai’s trade with the world reflects the emirate’s role as a regional and global hub for trade, transport and logistics, relying on the increasing investments spent over the years to develop the pioneering infrastructure of the emirate, which took its seaports and airports to high level of development and enabled it to embrace regional and global trade movement on a large scope.

Dubai Customs supported the ascending economic growth by improving the efficiency of services delivered to traders and customers, enabling them to clear their goods fast. Efforts exerted to advance our performance resulted in the announcement made by the WCO’s Columbus Diagnostic Mission Report, a new programme designed to develop customs work around the world, which named Dubai Customs a role model in the local, regional and international levels. — Ahmed Butti Ahmad, Director General of Dubai Customs

He also praised Dubai’s bid to host the 2020 World Expo citing Dubai’s proven track-record to successfully host major conventions and exhibitions.

Regarding trade partnerships, China topped the list of Dubai’s major trading partners. Imports from China, represented 15% of total imports at Dhs111 bn, followed by the USA with imports reaching Dhs69bn representing 9.33% of the total imports, with India in third place at Dhs68bn, representing a share of 9.28% of total import trade volume.

On the other hand, Switzerland came first among Dubai trade partners in regards to exports, with a 34% share of the total, amounting to Dhs56bn. India came second with exports worth Dhs32bn representing 20% of total Dubai exports. In third place was Turkey with goods worth of Dhs10bn, representing 6% of total export volume.

In re-export, India tops the list with products valued at Dhs51bn, representing 15% of the total, followed by the KSA with Dhs33bn representing 10% of re-exports. Iraq is in the third place with a share of 7.3%, amounting to Dhs24bn.

Trade with Arab countries witnessed a growth by 26% amounting to Dhs196bn with all Arab countries. Moreover, Dubai trade with GCC countries generated Dhs95bn, 28% increase compared to 2011.

Raw and half-manufactured gold continued to top the list of Dubai’s imports with a share of 18% of the total Dubai imports as it amounted to Dhs132bn, followed by communications networks equipment worth Dhs53bn representing 7% of the total imports, and rough diamonds with Dhs46bn, reaching 6% of this category.

For exports, gold led with a value of Dhs104bn representing 64% of the total exports followed by raw aluminum, which amounted to Dhs5bn with a 3% share, third were petroleum oils constituting 2.7% equivalent to Dhs4bn.

As regard to re-exportation, telephones came in first place at a value of Dhs50bn representing 15% followed by diamonds with a value of Dhs46bn representing 14% of the total exports. Jewelry and precious metals worth Dhs22bn with a share of 7% were third.

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