Monday, Jun 13, 2016

Dubai: Dubai’s non-oil foreign trade reached Dh319 billion in the first quarter of this year, according to a statement today from the Dubai Media Office, citing data from Dubai Customs.

The emirate’s non-oil foreign trade reportedly reached Dh331 billion in the first quarter of 2015, down slightly from the current year period.

Imports in the first quarter of this year contributed Dh196 billion, exports Dh36 billion, and re-exports Dh87 billion, according to the statement. The volume of goods traded rose 17 per cent in the first three months of this year compared to the same period last year to touch 24 million tons.

The growth was a result of re-export commodities increasing 35 per cent to 4.1 million tons, export goods rising by 26 per cent to 4.58 million tons, and import goods growing 11 per cent to 15.25 million tons.


High-value commodities

Mobile phones topped the list of high-value commodities in Dubai’s foreign trade in the first quarter, with Dh43 billion worth of trade. This was followed by gold with Dh32 billion worth of trade, diamonds with Dh23 billion, and jewellery with Dh18 billion. Dubai maintained its global market share of precious metals and jewellery commodities trading.

Meanwhile, Dubai’s foreign trade in automobiles in the first quarter reached Dh15 billion.

China was Dubai’s top trading partner with trade worth Dh39 billion in the first quarter of this year. India followed with Dh24 billion worth of trade, and the US with Dh22 billion. Saudi Arabia maintained its position as Dubai’s top GCC [Gulf Cooperation Council] and Arab trading partner, and fourth largest globally, with a total value of Dh14 billion.

“The safe-haven sector of foreign trade in the emirate of Dubai is gaining greater momentum at the present stage of the UAE’s economic development, where it is moving ahead into the post-oil phase that was launched by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to boost the nation’s diversified economy and ensure its sustainability,” stated Sultan Ahmad Bin Sulayem, chairman and chief executive of DP World and chairman of Ports, Customs and Free Zone Corporation.

The Director of Dubai Customs, Ahmad Mahboob Musabih, noted that new innovative projects to further enhance trade facilitation and control are in the pipeline. Some of the ones launched last year include the Virtual Corridor for easing cargo movement between customs centres in Dubai, and the Authorised Economic Operator (AEO) Programme which ensures the safety and facilitation of international trade.

Staff Report

Gulf News 2016. All rights reserved.