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Dubai’s ten-month total foreign trade exceeds Dhs1 trillion for first time

United Arab Emirates: Thursday, December 13 - 2012 @ 11:43

His Excellency Ahmed Butti Ahmed, Executive Chairman of Ports, Customs and Free Zone and Director General of Dubai Customs, said, “This value of the non-oil trade includes the direct trade, free zones trade and warehouse customs trade.”

He added, “This steady growth of Dubai’s trade with the world reflecting the recovery in the domestic economy from the global financial crisis driven by the performance of key sectors, notably foreign trade, and coincides with the emirate of Dubai launching many new development projects in the economic, recreational and real estate areas.”

This has been contributed by the Customs highly efficient facilities in Dubai, in addition to the modern and reliable infrastructure available in the ports and airports, underlining Dubai’s position as a key link to trade between East and West and a major gateway to the region’s trade with the rest of the world.

His Excellency Butti, explained, “The value of Dubai’s foreign trade during the first ten months of the year touches its value throughout the full year 2011, which reached Dhs1.1 trillion. He revealed that returns from Dubai’s imports during the period from January to October 2012 valued at Dhs609bn, compared to Dhs549bn for the same period last year, while exports re-exports amounted to Dhs420bn compared to Dhs363bn in the same period last year.”

He said, “Dubai external trade reached Dhs785bn in the period from Jan. to Oct. 2008, while it reached Dhs619bn during the same period 2009, due to the repercussions of the global financial crisis, before going up again in the period from Jan. to Oct. 2010 to reach Dhs742bn, then Dhs911bn in the same period 2011 and down to Dhs1.029 trillion for this period of year 2012, representing a growth of roughly 31% from its levels in 2008, which is one of the boom economic years in UAE.”

HE Butti, asserted, “Dubai Customs continues launching more services and systems that accelerate customs clearance procedures and save time and effort for the authority and the clients simultaneously, with overcoming any obstacles that may challenge any of the different work sectors, through periodic business meetings the authority holds with representatives of these sectors, to recognize their business development proposals. He commended on the integration in the customs branches with the strategic partners from ministries, federal agencies and local departments, so as to achieve the objectives of ‘Dubai Strategic Plan 2015′ in the area of economic development, and enhance the attractiveness of Dubai Investments, tourism and money and business.”

According to statistics issued by the Statistics Section, in the Administration of Strategy and Corporate Excellence at Dubai Customs, India has come atop the list of major trading partners for Dubai during the first ten months of the current year, as its total trade exchange valued Dhs127bn, followed by China with trade worth Dhs94bn, Switzerland with Dhs73bn, the United States came as the fourth trade partner with commercial exchanges worth Dhs59bn, and Turkey in the fifth place with Dhs42bn. This value of Dubai’s trade with these five countries is Dhs395bn, representing 38.5% of Dubai’s total non-oil foreign trade.

As for the most important products that formed Dubai foreign trade during the first ten months of this year, gold ore and half manufactured gold top the list of Dubai’s imports that worth Dhs113bn, followed by communications networks equipment that worth Dhs42bn, and diamonds with Dhs38bn, jewellery and precious metals that worth Dhs34bn, then cars with Dhs26bn.

Gold has ranked first on the list of the most prominent exports during the period from Jan. to Oct. 2012 with a value of Dhs89bn, followed by diamonds with a value of Dhs12bn, then jewellery and precious metals with a value of Dhs5bn, then petroleum oil with a value of Dhs4bn , then Aluminium with a value of Dhs4bn as well.

According to figures released by the Statistics Section in Dubai Customs, communications networks equipment has topped the most prominent re-export products from Dubai to the outside world that valued at Dhs40bn, followed by diamond with a value at Dhs27bn and jewellery and precious metals that worth Dhs18bn, then the equipment and IT hardware with a value of Dhs15bn, then gold came in the fifth place with a value of Dhs13bn.

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Thursday, December 13- 2012 @ 11:43 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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