Dubai's non-oil foreign trade in 2017 grew AED26 billion to reach AED1.3 trillion ($350 billion), it was revealed on Monday.
Dubai’s re-exports grew 9 percent last year to AED360 billion, while Dubai’s imports reached AED798 billion and exports totalled AED144 billion.
Dubai’s foreign free zone trade grew 5 percent to AED434 billion, while direct trade touched AED829 billion and customs warehouse trade reached AED39 billion.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and chairman of the Dubai Executive Council, praised the growth of Dubai’s non-oil trade in 2017.
Dubai’s competitiveness, he said, plays a key role in attracting investments from around the world, which seek to take advantage of Dubai’s position as a regional and international trading hub.
“Trade is one of the key sectors that drives Dubai’s growth as a major global trading hub, which is supported by the emirate’s long heritage of being a gateway for global trade. The current growth of its non-oil foreign trade is an indication that we are on the right path of revenue diversification,” Sheikh Hamdan said.
Dubai’s non-oil foreign trade conducted through land transportation grew 4.1 percent to reach AED241 billion in 2017, while sea trade grew 3.3 percent to AED467 billion and air trade reached AED594 billion.
China maintained its position as Dubai’s biggest trading partner in 2017 with AED176 billion worth of trade or 13.6 percent of the total value, followed by India with AED99 billion and the US (AED85 billion).
Saudi Arabia is Dubai’s leading business partner among GCC and Arab countries, and its fourth biggest trading partner, with trade worth AED58 billion.
Mobile phones topped the list of high-value commodities in Dubai’s foreign trade in 2017, with AED174 billion followed by gold with AED159 billion and diamonds (AED105 billion).For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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