ID :
202725
Mon, 08/22/2011 - 11:43
Auther :
Shortlink :
https://www.oananews.org//node/202725
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Dubai direct trade with the world reaches Dh289billion in five months
Dubai, Aug 22, 2011 (WAM) - Dubai trade with the world maintained high rates of growth during the first five months of the current year as the total direct trade exchange reached over Dh289billion with an increase rate of 27% as compared to the same period of 2010 where value of trade exchanges were worth Dh228billion.
Statistics issued by Dubai Customs on the first five months of 2011 shows growth in all sectors of direct trade between Dubai and the rest of the world which included exports, imports and re-exports. Likewise, Free Zones trade scored a boost by 25% of over Dh160billion as opposed to Dh128billion in the same period last year.
In addition, the Customs Warehouse business attained record growth by 58% approximate to Dh1.9billion as compared to the 1.2billion scored last year. Thus, the total of Dubai trade rates, which include direct trade, free zones and customs warehouses, jumped into Dh452billion compared to the Dh358billion with a growth rate of 26%.
Ahmed Butti Ahmed, Executive Chairman of Ports, Customs and Free Zone Corporation and Dubai Customs Director General stated that the increasing growth witnessed in Dubai trade with the world reinstates the strength and firmness of the UAE's economy.
"This is attributed to the economic diversity Dubai enjoys as well as the remarkable status it takes being a key business hub. Dubai direct trade with the world during the first five months of this year scored record rates if we look back at the same periods of the past five years. This reflects that Dubai has already overcome the financial crisis which stormed the international markets and still do," he said.
He further noted that the statistical indicators issued for Dubai direct trade during January - May 2011 period demonstrated a major growth in the exports movement by 36% amounting to Dh36.4billion as opposed to Dh26.7billion on the same period last year. As for the re-exporting sector, it grew by 33% reaching Dh74.2billion as compared to Dh55.8billion. Imports went up by 23% reaching Dh178.8billion compared to Dh145.6billion for the same period of 2010.
Ahmed Butti believes that these 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.
"Dubai's economic policies are distinctive and its economic legislations and systems meet top international standards and practices," he added.
As per the issued statistics by Dubai Customs, India gained the biggest share of Dubai direct trade with the world with a total trade exchange of over Dh87billion between both countries during the first five months of 2011 forming 30% of the total rate of Dubai trade.
Ahmed Butti stressed India's significance being the first trade partner and he believes that business movement between the two countries can achieve even more gains in the upcoming period taking into account the promising opportunities the economies of both sides have.
He pointed out as well that India topped the rest of the countries whether in imports which reached Dh41.3billion, exports which exceeded Dhs16billion or/and the re-exporting processes whose value was around Dh30billion.
China came second place in terms of imports with a value of Dh18.5billion, followed by the USA with a value of Dh13.1billion. As for the exports list, Switzerland came second place with value of Dh2.7billion, followed by Saudi Arabia with exports worth Dhs1.7billion during the first five months of 2011.
Rough and manufactured diamonds are the number one goods of Dubai imports with a value of around Dh31billion. Gold ore came second with over Dh29.5billion, followed by jewelry and its accessories and precious metals with a value of over Dh10.1billion, and cars and spare-parts with more than Dh7.7billion.
Whereas in the Dubai export list to the world gold came at the top with over Dh22billion, followed by petroleum oil and those extracted from bituminous minerals with a value of Dh1.5billion. Diamonds topped the re-exporting list during the first five months with over Dh33.2billion, cars and spare-parts came second place with a value of Dh3.75 and then jewelry and precious metals with a value of Dh3.1billion. - Emirates News Agency, WAM
Statistics issued by Dubai Customs on the first five months of 2011 shows growth in all sectors of direct trade between Dubai and the rest of the world which included exports, imports and re-exports. Likewise, Free Zones trade scored a boost by 25% of over Dh160billion as opposed to Dh128billion in the same period last year.
In addition, the Customs Warehouse business attained record growth by 58% approximate to Dh1.9billion as compared to the 1.2billion scored last year. Thus, the total of Dubai trade rates, which include direct trade, free zones and customs warehouses, jumped into Dh452billion compared to the Dh358billion with a growth rate of 26%.
Ahmed Butti Ahmed, Executive Chairman of Ports, Customs and Free Zone Corporation and Dubai Customs Director General stated that the increasing growth witnessed in Dubai trade with the world reinstates the strength and firmness of the UAE's economy.
"This is attributed to the economic diversity Dubai enjoys as well as the remarkable status it takes being a key business hub. Dubai direct trade with the world during the first five months of this year scored record rates if we look back at the same periods of the past five years. This reflects that Dubai has already overcome the financial crisis which stormed the international markets and still do," he said.
He further noted that the statistical indicators issued for Dubai direct trade during January - May 2011 period demonstrated a major growth in the exports movement by 36% amounting to Dh36.4billion as opposed to Dh26.7billion on the same period last year. As for the re-exporting sector, it grew by 33% reaching Dh74.2billion as compared to Dh55.8billion. Imports went up by 23% reaching Dh178.8billion compared to Dh145.6billion for the same period of 2010.
Ahmed Butti believes that these 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.
"Dubai's economic policies are distinctive and its economic legislations and systems meet top international standards and practices," he added.
As per the issued statistics by Dubai Customs, India gained the biggest share of Dubai direct trade with the world with a total trade exchange of over Dh87billion between both countries during the first five months of 2011 forming 30% of the total rate of Dubai trade.
Ahmed Butti stressed India's significance being the first trade partner and he believes that business movement between the two countries can achieve even more gains in the upcoming period taking into account the promising opportunities the economies of both sides have.
He pointed out as well that India topped the rest of the countries whether in imports which reached Dh41.3billion, exports which exceeded Dhs16billion or/and the re-exporting processes whose value was around Dh30billion.
China came second place in terms of imports with a value of Dh18.5billion, followed by the USA with a value of Dh13.1billion. As for the exports list, Switzerland came second place with value of Dh2.7billion, followed by Saudi Arabia with exports worth Dhs1.7billion during the first five months of 2011.
Rough and manufactured diamonds are the number one goods of Dubai imports with a value of around Dh31billion. Gold ore came second with over Dh29.5billion, followed by jewelry and its accessories and precious metals with a value of over Dh10.1billion, and cars and spare-parts with more than Dh7.7billion.
Whereas in the Dubai export list to the world gold came at the top with over Dh22billion, followed by petroleum oil and those extracted from bituminous minerals with a value of Dh1.5billion. Diamonds topped the re-exporting list during the first five months with over Dh33.2billion, cars and spare-parts came second place with a value of Dh3.75 and then jewelry and precious metals with a value of Dh3.1billion. - Emirates News Agency, WAM
