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Sun 21 Aug 2011 06:02 PM

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Dubai's global trade sees 27% increase in Jan-May

Total direct trade for first five months of 2011 exceeded AED289bn, says Dubai Customs chief

Dubai's global trade sees 27% increase in Jan-May
Dubai creek cargo

Dubai's trade with the world in the first five months of the year rose by 27 percent compared to the same period last year, officials said on Sunday.

Total direct trade reached more than AED289bn compared to AED228bn, according to statistics released by Dubai Customs.

Free Zones trade scored a 25 percent increase of over AED160bn compared to AED128bn, a statement said.

Ahmed Butti Ahmed, executive chairman of Ports, Customs and Free Zone Corporation and Dubai Customs director general, said the figures represented "the strength and firmness of the UAE's economy".

He added: "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.

India gained the biggest share of Dubai direct trade with the world between January and May with a total trade exchange of over AED87bn, 30 percent of the total trade. It topped the list for both imports and exports.

China was in second place in terms of imports with a value of AED18.5bn, followed by the USA with a value of AED13.1bn.

For exports, Switzerland came second place with value of AED2.7bn, followed by Saudi Arabia.

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