Dubai phones, PCs shares 17pc of trade value in H1
Dubai, August 28, 2014
Dubai’s phones and personal computers (PC) market share was 17 per cent of the total trade value of the emirate’s foreign trade in the first half of the year.
According to figures released by Dubai Customs, it showed that the emirate has reinforced the diversity of its foreign trade during the period, reflecting a key change in the commodity composition of trade to cope with the UAE’s shift to a knowledge economy, based on smart technologies.
The trading in phones grew 11 per cent compared to the first half of last year, amounting to Dh85 billion ($23.1 billion), compared to Dh76 billion. Phones topped other commodities in Dubai’s foreign trade, with China being the leading source for phone imports to Dubai, amounting to Dh27 billion, while Saudi Arabia was the main destination for phone re-exports with a value of Dh8.5 billion.
On the other hand, computers recorded a nine per cent growth at Dh27 billion compared to Dh24.6 billion, with trading in computers facing an increasing demand on smart IT hardware.
Sultan Ahmed bin Sulayem, chairman of Ports, Customs and Free Zone Corporation, said: “The commodities and markets’ diversity currently seen in Dubai’s foreign trade is attributed to the strategic initiatives launched by Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice-President, Prime Minister and Ruler of Dubai, to shift to a smart economy that puts Dubai on the fast track towards becoming the world’s smartest city.
“These initiatives are accompanied by a rise in the trade of smart technologies to reflect the evolvement of the emirate’s economy to the knowledge economy, keeping pace with the latest trends in world economy.”
Meanwhile, the figures also noted that the diversity of Dubai’s foreign trade is being accompanied by noticeable expansion in the tourism sector. The number of tourists who visited Dubai went up to 5.8 million during the period.
With more tourists flocking into Dubai’s jewellery souks, the emirate’s jewellery trade increased 12 per cent to Dh29.5 billion compared to Dh26.4 in the same period last year.
Dubai’s automotive foreign trade also climbed 31 per cent from Dh24.3 billion to Dh32 billion, reflecting Dubai’s leading position as a regional and global automobiles trading hub backed by the industry’s fast growth in the local markets.
The petroleum oils’ trade grew 31 per cent to Dh20.5 billion against Dh15.6 billion, which trade in helicopters and lightweight aircrafts saw a rise of 14 per cent and lightweight ships and floating equipment’s trade grew more than twice (125 per cent).
The upturn of real estate sector resonated in the growth of air conditioning’s business by 53 per cent to Dh3.6 billion against Dh2.4 billion in the first half of last year.
Ahmed Mahboob Musabih, director of Dubai Customs, said: “Dubai has invested a lot in foreign trade through many logistical development projects geared at serving the sector, particularly airports, seaports, free zones, roads, bridges and border facilities. At Dubai Customs, we strive to keep up with such infrastructure expansion by providing notch Customs services to traders and investors to save the time and effort needed to clear their consignments.
“The Dubai Customs’ Mirsal 2 system supported by the introduction of the new Risk Engine allowed the 24/7 electronic assessment and release of 84 per cent of non-risky consignments within 2 minutes only without human intervention. Additionally, the smart services we have offered to customers since last year also minimised their transaction time using the facility of submitting service requests through mobiles and smart watches.”
Dubai’s foreign trade markets also extend to reach partners’ from the five continents, spearheaded by China with a trade value for the first half with Dh80.5 billion, followed by India, US and Saudi Arabia. - TradeArabia News Service