Dubai direct trade exceeds AED 523bn
Exports increase by 43% to AED 72bn
Trade with GCC grows 31%
Dubai: Dubai’s non-oil total trade, which includes direct trade, free zone trade, and customs warehouse trade, exceeded AED 814bn at the end of third quarter in 2011, an increase by 23% compared to the same period of 2010 which reached AED 661bn.
HE Ahmed Butti Ahmed, the Executive Chairman of Ports, Customs & Free Zone Corporation, Director General of Dubai customs said that these great results of Dubai foreign trade reflect UAE’s strong and dynamic economy.
“There are certain factors that stood behind this growth. The UAE market accessibility to international markets, and the growing purchasing power have all contributed to the increase in the imports volume while the distinctive higher quality of UAE product together with the support to the national industry and facilities given to exporters have played a prominent role in increasing exports and opening new markets.
HE explained that Dubai non-oil direct foreign trade has also achieved good growth in the first nine months of 2011 compared to same period of 2010 at AED 523bn, to hit a roof that wasn’t hit even before the world economic downturn that overshadowed the world in the past 3 years. Free zone trade has also exceeded AED287bn compared to AED234bn in the same period last year, and the warehouse trade achieved AED 4b compared to AED 2.4bn.
According to recent statistics on Dubai direct foreign trade issued by Dubai Customs, the growth in the first nine months of the current year increased 21% ( AED 326bn) in imports, 43% (AED 72bn) in exports, and 18% (AED 125bn) in re-exports compared to same period in 2010.
“Dubai sophisticated modern infrastructure, the advanced services at sea and air ports together with the customs facilitations available to all land, sea and air customs ports have contributed considerably to achieve such positive results in Dubai foreign trade” Butti added “Dubai Customs never fails to support its clients, exporters and importers and improve service delivery standards in order to maintain the gains achieved by the emirate as a key link for trade movement between east and west and enhance the country`s ability to attract investors from everywhere.
India topped the list of exporting to Dubai with AED 66bn or 20.25% of all other countries. China came second at AED 35.5bn, or 10.9%, followed by USA with AED27bn or 8.3%, Japan AED 12.9b or 3.95%, UK AED 12.65 or 3.88%. In all, the top five exporting countries to Dubai exceeded AED 154bn which is more than 47%.
India also came first in importing from Dubai to exceed AED28bn, followed by Switzerland at AED 9.8bn, and Saudi Arabia at AED2.9bn. As for re-exports, India again topped the list with AED44.3bn, which made more than 35% of total re-exports.
Dubai’s trade with the GCC countries grew as well. Oman topped the list of exporters to Dubai with AED 2.4bn, followed by Saudi Arabia with around AED 2bn, and Kuwait and Bahrain third with around AED 865 mn for each. In exports, Dubai’s biggest importer is Saudi Arabia at AED 2.9bn, followed by Kuwait at AED 1.9bn , and Bahrain at about AED 610 mn. Kuwait topped the list in re-exports with AED 2.86bn, Saudi Arabia came second with AED 2.66bn, and Oman with around AED 1.03bn.
As of imports, the most important products constituting Dubai direct trade movement included unwrought, worked and semi-manufactured gold, which came on the top of the list amounting Ad 58.9bn during the Jan-Sep 2011 period, followed by diamonds at AED 48.9bn, and jewelries and precious metals occupied the third place at AED 17bn. In the fourth place came motor cars and vehicles at AED 13.4bn, followed by electrical apparatus for line telephony or line telegraphy at AED 6.8bn.
Gold also topped the list of Dubai exports at AED 45bn followed by petroleum oils and oils obtained from bituminous minerals at AED 2.8bn, then comes articles of jewelry with a value of AED 1.5bn.
In re-exports, diamonds took the lead with AED 52.3bn, followed by motor cars and vehicles at AED 5.8bn, then articles of jewelry at AED 4.3bn.
Butti concluded that all of these figures and indicators highlight an economic sustainable growth in Dubai and a clear emphasis on the productive value added sectors manifested in the highly developed infrastructure and the advanced set of legislations which create equal and competitive opportunities for the business community.
? Press Release 2012