Dubai total trade with the world exceeds Dhs814bn at the end of Q3 in 2011

Dubai, Jan 4, 2012 (WAM) - Dubai's non-oil total trade, which includes direct trade, free zone trade, and customs warehouse trade, exceeded Dhs814bn at the end of third quarter in 2011, an increase by 23% compared to the same period of 2010 which reached Dhs661bn. Ahmed Butti Ahmed, the Executive Chairman of Ports, Customs '&' Free Zone Corporation, Director General of Dubai customs said that these great results of Dubai foreign trade reflect UAE's strong and dynamic economy. "There are certain factors that stood behind this growth. The UAE market accessibility to international markets, and the growing purchasing power have all contributed to the increase in the imports volume while the distinctive higher quality of UAE product together with the support to the national industry and facilities given to exporters have played a prominent role in increasing exports and opening new markets. He explained that Dubai non-oil direct foreign trade has also achieved good growth in the first nine months of 2011 compared to same period of 2010 at Dhs523bn, to hit a roof that wasn't hit even before the world economic downturn that overshadowed the world in the past 3 years. Free zone trade has also exceeded Dhs287bn compared to Dhs234bn in the same period last year, and the warehouse trade achieved Dhs4bn compared to Dhs2.4bn. According to recent statistics on Dubai direct foreign trade issued by Dubai Customs, the growth in the first nine months of the current year increased 21% ( Dhs326bn) in imports, 43% (Dhs72bn) in exports, and 18% (Dhs125bn) in re-exports compared to same period in 2010. "Dubai sophisticated modern infrastructure, the advanced services at sea and air ports together with the customs facilitations available to all land, sea and air customs ports have contributed considerably to achieve such positive results in Dubai foreign trade" Butti added "Dubai Customs never fails to support its clients, exporters and importers and improve service delivery standards in order to maintain the gains achieved by the emirate as a key link for trade movement between east and west and enhance the country`s ability to attract investors from everywhere. India topped the list of exporting to Dubai with Dhs66bn or 20.25% of all other countries. China came second at Dhs35.5bn, or 10.9%, followed by USA with Dhs27bn or 8.3%, Japan Dhs12.9bn or 3.95%, UK Dhs12.65 or 3.88%. In all, the top five exporting countries to Dubai exceeded Dhs154bn which is more than 47%. India also came first in importing from Dubai to exceed Dhs28bn, followed by Switzerland at Dhs9.8bn, and Saudi Arabia at Dhs2.9bn. As for re-exports, India again topped the list with Dhs44.3bn, which made more than 35% of total re-exports. Dubai's trade with the GCC countries grew as well. Oman topped the list of exporters to Dubai with Dhs2.4bn, followed by Saudi Arabia with around Dhs2bn, and Kuwait and Bahrain third with around Dhs865m for each. In exports, Dubai's biggest importer is Saudi Arabia at Dhs2.9bn, followed by Kuwait at Dhs1.9bn, and Bahrain at about Dhs610m. Kuwait topped the list in re-exports with Dhs2.86bn, Saudi Arabia came second with Dhs2.66bn, and Oman with around Dhs1.03bn. As of imports, the most important products constituting Dubai direct trade movement included unwrought, worked and semi-manufactured gold, which came on the top of the list amounting Ad 58.9 b during the Jan-Sep 2011 period, followed by diamonds at Dhs48.9bn, and jewelleries and precious metals occupied the third place at Dhs17bn. In the fourth place came motor cars and vehicles at Dhs13.4bn, followed by electrical apparatus for line telephony or line telegraphy at Dhs6.8bn. Gold also topped the list of Dubai exports at Dhs45bn followed by petroleum oils and oils obtained from bituminous minerals at Dhs2.8bn, then comes articles of jewellery with a value of Dhs1.5bn. In re-exports, diamonds took the lead with Dhs52.3bn, followed by motor cars and vehicles at Dhs5.8bn, then articles of jewellery at Dhs4.3bn. Butti concluded that all of these figures and indicators highlight an economic sustainable growth in Dubai and a clear emphasis on the productive value added sectors manifested in the highly developed infrastructure and the advanced set of legislations which create equal and competitive opportunities for the business community. - Emirates News Agency, WAM