ID :
Mon, 09/08/2008 - 12:47
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Dubai non-oil trade up by 54% in H1

Dubai, Sept.8, 2008 (WAM) - Dubai's non-oil direct foreign trade jumped by 54.3 per cent during the first half of 2008 ending in June compared to the same period in 2007, latest report by Dubai World's Statistics Department has revealed.

According to the report, Dubai's direct foreign trade recorded a massive first-half jump by Dh104.4 billion (around US$ 28.4 billion), to reach Dh296.6 billion (around US$ 80.8 billion), compared to Dh192.2 billion (US$ 52.3 billion) achieved last year during the same period.

Saeed Al Qaizi, Director of Procurement, Contracts and Statistics, Dubai World, said: "This growth reflects the position Dubai now enjoys in global trade. Excellent development of infrastructure and reinforcement of its competitive potentials have helped Dubai to become an attractive economic hub for investments in diverse areas. This is clearly reflected in the Statistics Department report, which has been prepared from carefully documented data of the trading activity in the emirate." Nassim Al Mehairi, Acting Manager, Statistics Department, Dubai World said: "Dubai's overall imports during January-June, 2008 rose from Dh135.1 billion to Dh206.2 billion, which amounts to a growth rate of 52.7 per cent." Dubai's exports also recorded phenomenal growth, rising by Dh7.5 billion in the first half of 2008 to reach Dh20.1 billion - a growth rate of 59.1 per cent.

Re-exports registered a similar remarkable 57.7 per cent growth to reach Dh70.3 billion, compared to the 2007 figure of Dh44.5 billion.

India topped the list of Dubai's main trading partners during the period in import, export and re-export sectors. In imports the bilateral trade volume during the period grew by 49.6 per cent, reaching Dh24.1 billion against Dh16.1 billion in the first half of 2007.

China moved from first to second place, showing a growth by Dh23.8 billion, compared to Dh18.3 billion during the first period of 2007 - a growth rate of 29.9 per cent. The United States of America maintained its third place with Dh16.4 billion worth of imports during H1, 2008, against Dh9.2 billion in 2007, showing a growth rate of 76.4 per cent, the report said.

India also topped among trading partners in exports at Dh8.3 billion during the first six months of this year - a growth rate of 44.4 per cent compared to the first six months of 2007 (Dh5.7 billion), the report noted.

Switzerland came second in the first half of 2008, jumping from the 56th place in H1 of 2007. Dubai's bilateral trade with Switzerland grew by 6039.6 per cent from Dh24.7 million to Dh1.5 billion. The Jebel Ali Free Zone also jumped from the 16th place to the 3rd place, with exports reaching Dh800 million, compared to around Dh100 million in 2007 first half.

In re-export trading during first half of 2008, India again came on top of the list after coming second during the first half of 2007, recording a growth rate of 176.3 per cent, compared to the same period of the current year, rising from Dh7.9 billion to 21.9 billion. Iran moved to second place despite recording a growth rate of 25.9 per cent, with the re-exports increasing from Dh8 billion to Dh10.2 billion, while Switzerland came third at a growth rate of 108.2 per cent, rising from Dh2.3 billion to Dh4.8 billion.