Dubai trade rises 19pc to $129bn
Dubai, January 9, 2011
The value of Dubai's trade rose 19 per cent during the first 10 months of 2010 to Dh475 billion ($129.3 billion), compared to Dh400 billion in the same period in 2009, data showed.
The emirate's direct exports rose 36 per cent to more than Dh56.5 billion during the first 10 months of 2010, from Dh41 billion for the same period in 2009, stated Ahmed Butti Ahmed, director general of Dubai Customs and CEO of the Ports, Maritime and Free Zone Authority.
Re-export operations totaled Dh118 billion during the first 10 months of 2010 compared to Dh96 billion during the same period in 2009.
Dubai imports recorded more than Dh300 billion for the period with a rise of 14 per cent compared to the same period in 2009 which totaled Dh262 billion.
Statistics released by Dubai Customs included free zone trade which grew by 22 per cent during the first ten months of 2010 totaling Dh265 billion compared to
Dh217 billion for the same period in 2009.
Trade of customs stores rose by 110 per cent totaling Dh2.7 billion by the end of the first ten months of 2010 compared to Dh1.3 billion for the same period of 2009.
Meanwhile, India remained on top of the list of Dubai’s business partners, according to figures released by the end of October 2010. The value of total exchanges between Dubai and India has grown to Dh123 billion which makes 26 per cent of total Dubai trade exchanges with the world. Dubai imports from India stood at Dh56.4 billion, and exports valued Dh24 billion. Re-export operations totaled
In imports, China came second after India. Dubai’s imports from China within the first ten months of 2010 totaled Dh37 billion. China is followed by the United States of America with more than Dh23 billion of exports to Dubai.
In terms of exports, Switzerland is the second biggest importer from Dubai after India with a value of approximately Dh10 billion, followed by Saudi Arabia which came second with more than Dh2 billion.-TradeArabia News Service