India has emerged as Dubai's top trading partner during the first half of 2008 with trade crossing $6.56 billion as against $4.38 billion in the corresponding period last year, said a report by Dubai World's Statistics Department.
Pushing aside China to the second place, India also topped among trading partners in exports, which ballooned to $2.26 billion with a growth rate of 44.4 per cent as compared to the first six months last year, the report said.
China though in second place showed a growth rate of 29.9 per cent which was $6.48 billion as against last year's $4.98 billion. The US stood at third place with a growth rate of 76.4 per cent.
The bilateral trade volume of imports between India and Dubai has grown by 49.6 per cent, the department said.
Meanwhile, Dubai's non-oil direct foreign trade jumped by 54.3 percent during the first half of 2008, as compared to the same period last year.
'This growth reflects the position Dubai now enjoys in global trade. Excellent development of infrastructure and reinforcement of its competitive potentials have helped Dubai become an attractive economic hub for investments in diverse areas,' said Saeed Al Qaizi, the director of procurement, contracts and statistics, at the Dubai World.
Nassim Al Mehairi, the acting manager at statistics department of Dubai World said, 'Dubai's overall imports during January-June, 2008 also saw a growth rate of 52.7 per cent.'