Saturday 26 May 2018

Dubai Investments sees exports up 129pc

Dubai, December 14, 2013

Dubai Investments, a leading investment company listed on the Dubai Financial Market, has announced that the volume of exports from its various subsidiaries has grown substantially over the last five years, reflecting the potential of manufacturing exports from its companies across multiple sectors.

An analysis of the export performance of the Dubai group's subsidiaries between 2008 and 2012 revealed that glass export achieved the highest growth, followed by other products such as aluminium, pharmaceuticals, steel and rubber, among others.

The company’s glass exports, which was worth Dh88.34 million in 2008, jumped to over Dh200 million in 2012, an increase of more than 129 per cent.

Dubai Investments said its major export markets are the GCC countries, Yemen, Jordan, Lebanon, Turkey, South Asia, Africa, UK, Europe, Australia, Singapore, Malaysia, Brazil, other parts of South America, CIS countries and across the globe.

Khalid Bin Kalban, the managing director and CEO, said: “We have seen a tremendous growth in exports from our subsidiaries, particularly in manufacturing exports. Expanding the global footprint has been one of our top priorities and the year-on-year growth is in line with our strategy to make exports as one of the frontrunners of success.”

“We will continue to achieve consistent growth in our exports across our diversified products and services – primarily by opening up business channels in newer markets as well as building our presence in the existing ones,” he noted.

According to him, the exports of extruded aluminium grew from Dh58.92 million in 2010 to nearly Dh100 million in 2012, an increase of over 64 per cent while switchgear exports also surged from Dh116,424 in 2010 to Dh235,068 in 2011, a growth of 203 per cent, which further increased to Dh330,488 in 2012 [+40 per cent].

Similarly, the rubber exports grew from Dh18.59 million in 2010 to over Dh21 million in 2012, with focus markets being the Gulf countries, Europe as well as Africa.

Exports of steel enclosures for electrical products grew from Dh1.12 million in 2010 to Dh2.17 million in 2011 [+94 per cent], which further increased to Dh3.61 million in 2012, a growth of 66 per cent, said the company in its statement.

Dubai Investments' subsidiaries also achieved substantial growth with the export of fabricated steel structures touching more than Dh93 million in 2012, up 81 per cent over exports of nearly Dh51million achieved in 2010. The major export markets are Qatar, followed by Oman.

Similarly, pharmaceutical exports was worth in excess of Dh100 million in 2012, an increase of over 27 per cent compared to Dh79.66 million exports achieved in 2010. The company’s export in the sector has been on a northwards trajectory over the last five years, having achieved a phenomenal 80 per cent growth compared to exports in 2008, said the statement.

As part of its strategy, Dubai Investments said it is working closely with Dubai Exports, the export promotion agency of Dubai Department of Economic Development [DED] to reinforce its growth strategy in export markets.

The company is also participating in a number of trade shows and exhibitions globally to realize market opportunities and export capabilities, it added.-TradeArabia News Service

Tags: Exports | Dubai Investments |

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