Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Dubai foreign trade crosses Dh1 trillion  Join our daily free Newsletter

MENAFN - Khaleej Times - 09/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Figures enhance UAE's status as a global trading hub; India still emirate's top export partner.

Dubai's non-oil foreign trade surged nine per cent to cross the Dh1 trillion mark by the end of the third quarter of 2013 from Dh918 billion for the same 2012 period, with India retaining its rank as the No.1 trade partner.

Two-way trade with India grew to Dh111 billion in the first nine months, while China recorded Dh99 billion to reinforce its position as the second-largest trading partner of Dubai. The United States was at third position with Dh65 billion.

"Trade is one of the key pillars in the overall structure of our local economy and a main driver for its growth. We look at the rising curve in trade volumes as an indicator of the success of our developmental strategies," said Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council.

The strong results and a steady increase in the volume of foreign trade exchanges are solid evidences of the effectiveness of Dubai's economic policies, Shaikh Hamdan said.

The pace of growth in trade further enhances the UAE's status as a global trade hub and reinforces Dubai's position as a focal gateway for international trade exchanges.

"With the UAE voted the host nation of World Expo 2020 in Dubai, the trade sector will undoubtedly witness tremendous growth over the coming few years up to the beginning of the next decade. Appearing for the first time ever in the Middle East North Africa and South Asia, the world's largest exhibition will pave the way for stronger trade flows, opening unprecedented opportunities in a region inhabited by around two billion people," Shaikh Hamdan said.

"Dubai's highly-reliable and efficient infrastructure and quality logistic services will be strong assets to facilitate and support the expected trade growth across the region."

Dubai Customs statistics showed that he trade growth was driven by a surge in imports to Dh610 billion from Dh546 billion.

Exports and re-exports also rose to Dh399 billion from Dh372 billion.

Direct trade accounted for 64 per cent of Dubai foreign trade to hit Dh649 billion, up from Dh595 billion for the same 2012 period. Free zones trade share was 35 per cent at Dh348 billion and customs warehouse trade hit Dh12 billion

Ahmed Butti Ahmed, executive chairman of Ports, Customs and Free Zone Corporation and director-general of Dubai Customs, said the roadmap to the development of Dubai's foreign trade for the coming years is crystal-clear now. "As the emirate is getting closer to hosting Expo 2020, our main mission is to corroborate Dubai's leading role in the world's scenery, to become one of the world's most important cities in international trade," he said.

"To achieve this, we need to implement commercial strategies that respond to the nature of on-going transformations in global economy, in the light of the uprising of Asian markets and their taking on a leading position in international trade movement, in order to maximise our utilisation of these transformations, by further cementing ties with Asian markets which strive to expand their reach through Dubai and strengthen their existence in a wide region that extends from Asia to Europe and Africa," Ahmed added.

China topped the list of Dubai's import sources with a share of 16 per cent or Dh96 billion, followed by the US with a share of nine per cent amounting to Dh58 billion and India with Dh55 billion.

In exports, India was first with a share of 21 per cent or Dh24 billion, followed by Turkey with 13 per cent and Dh15 billion and Switzerland with seven per cent or Dh8 billion.

In re-export destinations, Saudi Arabia was first with a share of 12 per cent or Dh33 billion, followed by India with 11 per cent or Dh32 billion, Iraq with a share of 7 per cent at Dh20 billion.

 






  MENA News Headlines
 Aug 21 2014 - AnastasiaDate Shares Some Truly Inspiring Long Distance Love Stories of MembersMENAFN Press
(MENAFN Press) AnastasiaDate shares more long–distance real life love stories of their members. By Ana Mauer AnastasiaDate the leading online international dating portal recently shared more long ...

 Aug 21 2014 - The Kitchness Stainless Steel BBQ Basting Brush Is Released For Sale To The General Public On Amazon.comMENAFN Press
(MENAFN Press) Amazon appointed as exclusive Worldwide Distributor for this second-generation BBQ Brush.ARECIBO PUERTO RICO August 20 2014. The long awaited release of the Kitchness Stainless ...

 Aug 21 2014 - AsianDate Offers Valuable Tips on How to Avoid Online Dating ScamsMENAFN Press
(MENAFN Press) AsianDate shares useful tips with members on how to avoid dating scams. By Jia Li Asian Date the trusted and highly established Asia-specific online dating service has shared some ...

 Aug 21 2014 - Experts Find Tinting Your Homes Windows Lowers Energy Consumption ConsiderablyMENAFN Press
(MENAFN Press) With growing global concerns people are now encouraged to conserve energy and cut back on the energy consumption to preserve the earth's resources for future generations. Among the ...

 Aug 21 2014 - More South Floridians are Keeping Their Automobiles LongerMENAFN Press
(MENAFN Press) A new car is a major investment that people like to use for as long as the vehicle allows them to but when a car is scratched smashed or scraped in from the corner of the bumper the ...

 Aug 21 2014 - flipb Software Announces Pre-designed TemplatesMENAFN Press
(MENAFN Press) flipb Software a leading provider of digital publishing software announces the recent release of predesigned templates to streamline the PDF to flipbook conversion process.San Jose CA ...

 Aug 21 2014 - Small Business Trends Quotes Joshua B Lee of Stand Out AuthorityMENAFN Press
(MENAFN Press) Joshua B Lee co-founder of Stand Out Authority was just quoted in a story on Small Business Trends publication. The article is about things not to do when pitching investors and ...

 Aug 21 2014 - Clogged Grease Traps can Cause Health Problems in Miami RestaurantsMENAFN Press
(MENAFN Press) Restaurants and Eateries have to abide by strict health and hygiene rules and regulation which require them to maintain a specific level of sanitation to ensure that the people who ...

 Aug 21 2014 - The Dental Health Center Joins Smiles Dental Now Smiles Dental RoseburgMENAFN Press
(MENAFN Press) The Dental Health Center a Roseburg OR dentist recently joined Smiles Dental a regionally-focused dental group in order to continue to provide comfortable high-quality dental services ...

 Aug 21 2014 - Online Business Franchise Opportunity Vs Affiliate ProgramMENAFN Press
(MENAFN Press) Buy an online internet business franchise opportunity. Licensees only need a cell phone laptop and internet connection. Unlimited earning potential with an online franchise business ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help