Dubai non-oil foreign trade hit Dh952 billion in nine months

Dubai - Dubai imports had the lion's share at Dh594 billion

The emirate of Dubai saw 11 per cent surge in the total volume of traded goods in the first nine months of 2016, rising as high as 70.82 million tons of commodities.
DP World Group Chairman and CEO and Chairman of Ports, Customs and Free Zone Corporation, Sultan Ahmed Bin Sulayem, said that Dubai imports had the lion's share at Dh594 billion (46.81 million tons and 12% increase).

"Exports and re-exports accounted for Dh109 billion (11.84 million tons and 8% increase) and Dh249 billion (12.17 million tons and 10.5% increase), respectively. This pushes the total value of Dubai's trade up to Dh952 billion."
To offset the impact of the general slowdown in world economy, lower commodity prices and the slump in oil prices, Dubai has wisely restructured and broadened its sources of revenue, he added. "This has been considered while taking critical measures to stimulate growth in the affected sectors."

Ahmed Mahboob Musabih, Director of Dubai Customs said mobile phones topped the list of high-value commodities in Dubai's foreign trade in the first 9 months of this year with Dh124 billion worth of trade, and computers at Dh30 billion.
"This quite supports Dubai's transformation into the world's smartest city and its growth as one of the region's and the world's major trading hub for smart ICT products."

Next on the list was gold with Dh116 billion worth of trade, followed by diamonds at Dh73 billion, and jewelry at Dh46 billion, he added. "On the other hand, Dubai's foreign trade in automobiles in the first 9 months of 2016 stood at Dh44 billion, and the value of petroleum oils reached Dh30 billion."
Speaking exclusively to Khaleej Times, Musabih said Dubai's non-oil trade with Asia comes on top of other continents with a total amount of Dh582.7 billion, followed by Europe with Dh182.5 billion.
"Africa then came third with Dh96.6 billion, followed by North America with Dh73.1 billion, South America with Dh9.3 billion, and Oceania, including Australia, with Dh7.2 billion."
Dubai foreign trade with Arab countries, excluding Gulf States, amounted to Dh73.1 billion in the first nine months of the year, Musabih told Khaleej Times. "Our imports from Arab countries hit Dh27.3 billion against Dh13.5 billion for exports, Dh32.3 billion for re-exports."

However, Dubai trade with Iraq topped the list with Dh23.3 billion, followed by Egypt with Dh11.8 billion, Libya with Dh11 billion, Sudan with Dh6.8 billion, Lebanon with Dh4.8 billion, and Jordan with Dh3.5 billion."
With a bilateral trade worth Dh120.8 billion, China was - by far - Dubai's primary trading partner in the first 9 months of 2016. India came in second with bilateral trade at Dh70.4 billion, Musabih stated. "The USA followed with Dh64 billion trade value, which means a 6% increase compared to the first 9 months of 2015."
Once again, the Kingdom of Saudi Arabia was Dubai's fourth top trading partner globally and first in the GCC and Arab regions, at Dh39.4 billion, he said. "Moreover, a substantial increase of 64 per cent in trade value was recorded between Switzerland and Dubai, taking their two-way commerce to Dh36 billion."
ahmedshaaban@khaleejtimes.com