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Wed 18 Apr 2012 07:43 PM

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Dubai's foreign trade tops AED1trn for first time

2011 trade total of AED1.1trn was 22% rise on previous year; India is top trade partner

Dubai's foreign trade tops AED1trn for first time

Dubai's foreign trade in 2011 broke through the AED1trn mark for the first time in the emirate's history.

The total of AED1.1trn ($299bn) represented an increase of 22 percent compared to the AED902bn achieved in 2010, Dubai Customs said on Wednesday.

Ahmed Butti Ahmed, director general of Dubai Customs, said the figures represented the "robust economy in the UAE in general, and Dubai in particular".

He said that all direct trade indicators recorded "significant growth" last year compared to the year earlier.

Imports increased 21 percent to AED442bn while exports jumped 44 percent to AED98bn and re-export trade grew 18 percent to AED161bn.

India was the most important trade partner with 19 percent of the overall Dubai foreign trade amounting to AED206bn.

It headed the lists for importing, exporting and re-exporting countries.

China came second with imports amounting to AED100bn, followed by the US, Japan and Germany.

The director general said that Dubai's direct trade with GCC countries grew 28 percent last year to AED28.4bn, with Saudi Arabia the top trade partner followed by Kuwait, Oman, Qatar and Bahrain.

The most important products for Dubai's trade was gold, followed by diamonds, precious stones and metals and vehicles.

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Diana 8 years ago

Thank You! Arabian Business News. As a business college student in the U.S. It is a privilage to know that we can study how the UAE does business in a working society out side the classroom.