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Dubai’s direct exports surge 22.9pc

In 2008, the value of Dubai exports was Dh42.6 billion.

Imports, which contributed 65.2 per cent of Dubai’s total direct foreign trade of Dh488.5 billion in 2009, dropped 27.9 per cent to Dh318.5 billion while re-exports dropped 8.6 per cent, the Dubai Export Monitor 2010 published by the Dubai Export Development Corporation, or EDC, shows.

Dragged down by weak imports and re-exports, Dubai’s overall direct foreign trade declined by 20.3 per cent to Dh488.5 billion in 2009 from Dh612.7 billion in the previous year, data released recently by the Dubai Statistics Centre shows.

“The value of exports of nearly 50 per cent of the EDC’s target products such as sugar, cocoa, precious stones and aluminium also increased. In addition, Dubai exports to 12 out of 27 destinations increased,” the EDC said in a statement on Monday.

Saed Al Awadi, Chief Executive Officer of the EDC, said Dubai provides world class trading platform for a wide array of commodities thanks to its strategic geographical position.

The EDC seeks to create opportunities for Dubai companies to expand and promote their products in the fastest growing regions, he pointed out.

“Our role is to ensure the development of as many opportunities for exports not only regionally but internationally,” he said.

Leading export destinations of Dubai during 2000-2009 were India, Switzerland, Saudi Arabia and Pakistan. In terms of grow rate, Switzerland, Brazil, Egypt and Saudi Arabia were the top destinations.

Jewellery and gold were Dubai’s biggest export items by value, rising 38 per cent to Dh32.9 billion in 2009, The second-fastest growing export by value was plastic products, which rose 27 per cent to Dh2.67 billion.

The third-fastest growing export was foodstuffs, which rose nearly 17 per cent from Dh3 billion in 2008 to Dh3.5 billion.

In 2009, India topped the list of Dubai’s export markets for the second consecutive year with a share of 40.6 per cent and a value of Dh21.3 billion. Switzerland came second with a share of 16.6 per cent (Dh8.7 billion).

Third was Saudi Arabia with a total value of Dh2 billion (4 per cent), followed by Pakistan with a share of 3.3 per cent (Dh1.7 billion) and Iran with 2.8 per cent (Dh1.48 billion), according to data provided by Dubai Customs.

Dubai expects to record further growth in exports to destinations including Qatar, China, India, Indonesia, Egypt and Brazil, countries that are forecast to grow in real gross domestic product, Dubai Export Monitor said.

· issacjohn@khaleejtimes.com