Saturday, 25 November 2017 03:38 GMT
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Dubai Investments' exports surge 129% in last 5 years

(MENAFN - Arab News) Dubai Investments PJSC (DI), a leading investment company listed on the Dubai Financial Market, has announced that the volume of exports from its various subsidiaries has grown substantially over the last five years, reflecting the potential of manufacturing exports from its companies across multiple sectors. An analysis of the export performance of DI subsidiaries between 2008 and 2012 revealed that glass export achieved the highest growth, followed by other products such as aluminum, pharmaceuticals, steel and rubber, among others. The company's glass exports, which was worth AED88.34 million in 2008, jumped to over AED200 million in 2012, an increase of more than 129 percent. The key export markets for DI were the GCC countries, Yemen, Jordan, Lebanon, Turkey, South Asia, Africa, UK, Europe, Australia, Singapore, Malaysia, Brazil, other parts of South America, CIS countries and across the globe. Khalid bin Kalban, managing director and CEO of DI, said: "We have seen a tremendous growth in exports from DI subsidiaries, particularly in manufacturing exports. Expanding DI's global footprint has been one of our top priorities and the year-on-year growth is in line with our strategy to make exports as one of the frontrunners of success." He added: "We will continue to achieve consistent growth in our exports across our diversified products and services - primarily by opening up business channels in newer markets as well as building our presence in the existing ones." Export of extruded aluminum grew from AED58.92 million in 2010 to nearly AED100 million in 2012, an increase of over 64 percent while switchgear exports also surged from AED116,424 in 2010 to AED235,068 in 2011, a growth of 203 percent, which further increased to AED330,488 in 2012 (+40 percent). Similarly, rubber exports grew from AED18.59 million in 2010 to over AED21 million in 2012, with focus markets being the Gulf countries, Europe as well as Africa. Exports of steel enclosures for electrical products grew from AED1.12 million in 2010 to AED 2.17 million in 2011 (+94 percent), which further increased to AED3.61 million in 2012, a growth of 66 percent. DI's subsidiaries also achieved substantial growth with the export of fabricated steel structures touching more than AED93 million in 2012, an increase of over 81 percent over exports of nearly AED51 million achieved in 2010. The major export markets are Qatar, followed by Oman. Similarly, pharmaceutical exports was worth in excess of AED100 million in 2012, an increase of over 27 percent compared to AED79.66 million exports achieved in 2010. The company's export in the sector has been on a northwards trajectory over the last five years, having achieved a phenomenal 80 percent growth compared to exports in 2008. As part of its strategy, DI is also working closely with Dubai Exports, the export promotion agency of the Department of Economic Development (DED), Government of Dubai, to reinforce its growth strategy in export markets. DI is also participating in a number of trade shows and exhibitions globally to realize market opportunities and export capabilities.


Dubai Investments' exports surge 129% in last 5 years

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