Dubai non-oil trade hits Dh1 trillion in Q3
Dubai, January 6, 2014
Dubai's non-oil foreign trade crossed the Dh1 trillion ($272.26 billion) milestone during the first nine months in 2013, Dubai Customs statistics showed.
The trade reached Dh1.009 trillion by the end of Q3, compared to Dh918 billion for the same period in 2012, it said.
Dubai's non-oil foreign trade growth was the result of the increase in imports which reached Dh610 billion during the period, as compared to Dh546 billion in the same period last year. In addition, exports and re-exports rose to Dh399 billion, compared to Dh372 billion.
"The fast-paced growth of Dubai's non-oil trade reflects the emirate's strong economic performance, reinforced by the massive achievements led by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice-President, Prime Minister and Ruler of Dubai," said Ahmed Butti Ahmed, executive chairman of Ports, Customs and Free Zone Corporation and director general of Dubai Customs.
Direct trade accounted for 64 per cent of Dubai foreign trade, as it reached Dh649 billion by the end of Q3 2013, up from Dh595 billion for the same period in 2012. The share of free zones stood at 35pc (Dh348 billion, compared to Dh316 billion) and customs warehouse trade hit Dh12 billion, up from Dh6 billion.
India ranked first on Dubai's total non-oil foreign trade partner list; as trade volumes between them reached Dh111 billion, followed by China with Dh99 billion and the US with Dh65 billion.
China topped the list of import partners with a share of 16pc that is equal to Dh96 billion, followed by the US with a share of 9pc amounting to Dh58 billion and India with almost 9pc equalling Dh55 billion.
In exports, India came at the forefront of Dubai's trade partners with a share of 21pc of all exports, equalling Dh24 billion, followed by Turkey with 13pc (Dh15 billion) and Switzerland with 7pc (Dh8 billion).
As for re-exports; Saudi Arabia came first with a share of 12pc amounting to Dh33 billion, followed by India with 11pc (Dh32 billion) and Iraq with 7pc (Dh20 billion).
Gold was the biggest non-oil import item, followed by cellular and wired communication devices, diamond, cars, various jewellery types and pieces.
Among exports, gold came first, followed by raw aluminum, petroleum oils, jewellery, cigars, cigarettes and tobacco alternatives.
Cellular and wired communication devices topped the re-export list, followed by unprocessed diamond, computers and hardware, petroleum oils and cars. - TradeArabia News Service