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Dubai's Q1 imports were valued at Dh196bn.

Dubai non-oil trade hits $86.83bn in Q1

DUBAI, June 15, 2016

Dubai’s non-oil foreign trade reached Dh319 billion ($86.83 billion) in the first quarter of this year,  according to statistics released by Dubai Customs.

Imports contributed Dh196 billion, exports Dh36 billion, and re-exports Dh87 billion, it said.  

The volume of traded goods jumped 17 percent, compared to the same period last year, to reach 24 million tonnes, the data showed.

The significant growth was the result of re-export commodities soaring 35 percent to 4.1 million tonnes; export of goods rising by 26 percent to 4.58 million tonnes, and import of goods going up 11 percent to 15.25 million tonnes, it said.

Mobile phones topped the list of high-value commodities in Dubai’s foreign trade in the first three months of this year with Dh43 billion worth of trade.

Next on the list was gold with Dh32 billion worth of trade, followed by diamonds with Dh23 billion, and jewellery with Dh18 billion. Dubai’s foreign trade in automobiles in the first quarter of 2016 stood at Dh15 billion.

China topped Dubai’s trading partners with trade worth Dh39 billion in Q1 2016. India came second with Dh24 billion worth of trade, followed by the US at third place with Dh22 billion. Saudi Arabia remained Dubai’s top GCC and Arab trading partner, and fourth largest globally, with a total value of Dh14 billion.

“The safe-haven sector of foreign trade in the emirate of Dubai is gaining greater momentum at the present stage of the UAE’s economic development, where it is moving ahead into the post-oil phase that was launched by Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum to boost the nation’s diversified economy and ensure its sustainability,” said Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World and Chairman of Ports, Customs and Free Zone Corporation.  

“A key factor in our national economic diversification, Dubai’s foreign trade sector puts the UAE solidly on the world trade map, especially as Dubai has positioned itself among the leading global markets for smart information technology and broadened its global trading partner network to include major players in the world economy,” added Bin Sulayem. - TradeArabia News Service

Tags: Dubai | Trade | non-oil |

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