Exports by DCCI members hit record Dh40b in Q2 ’07

DUBAI — Exports of Dubai Chamber of Commerce and Industry (DCCI) members sustained the growth momentum that began after the first quarter of 2006, with 6,682 DCCI members exporting a record high of Dh40 billion in the second quarter of 2007, up by 40 per cent over the Dh29 billion exports recorded in the same quarter of 2006.

By (Wam)

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Published: Wed 12 Sep 2007, 9:12 AM

Last updated: Sat 4 Apr 2015, 11:39 PM

The value maintained the 10 per cent quarter-on-quarter growth recorded in the previous quarter.

GCC and Iran are the major export destinations. The GCC remains the largest market of DCCI members, with 46.2 per cent of total exports valued at Dh18.3bn destined for the region, and an additional Dh2.7 bn or 7 per cent, within the UAE. However, Iran was still the largest single market, being the destination of exports valued at Dh8.5bn or 21.5 per cent of the total exports during the quarter.

Saudi Arabia and Qatar were the largest markets in the GCC, with total exports to these two countries reaching Dh7.5 bn and Dh6.8 bn, respectively, representing respective quarter growths of 10.2 per cent and 11.8 per cent.

Exports to Kuwait reached Dh2.1 bn, showing a growth of 8.9 per cent. However, the 4.5 per cent decline of exports to Oman and the sluggish growth of 2.4 per cent of exports to Bahrain pulled down the growth of total exports to GCC to only 9.1 per cent. Exports to Oman during the quarter reached Dh1.4 bn, while those to Bahrain, were only Dh0.6 bn.

On the other hand, exports to India posted a double-digit quarter growth of 18.5 per cent to reach Dh1.1 bn during the quarter. Meanwhile, exports to Yemen amounted to Dh1.0 bn, representing quarter growth of 9 per cent. Among the other major destinations, double-digit quarter growths were recorded for Egypt at 34.2 per cent for a total value of Dh0.9 bn, Jordan, 29.4 per cent for a value of Dh0.7 bn, and Iraq, 17.4 per cent for a value of Dh0.4 bn. In contrast,declines were noted in exports to Libya to Dh0.9 bn, or by 8.8 per cent, and to Sudan, to Dh0.4 bn, or by 27.1 per cent.

Total exports to other destinations grew from Dh3.7 bn in the first quarter to Dh4.7 bn in the second quarter, for an impressive quarter growth of 26.5 per cent.

Value of exports by economic activity of the exporter shows a 26.8 per cent quarter growth in the exports of DCCI members in the manufacturing sector. From an export value of Dh2.4 bn in the first quarter, the value grew to Dh 3.1 bn in the second quarter of the year, leading to a percentage increase in the share of the sector to total exports to 7.7 per cent.

All the subsectors posted double digit growths, with exports of members in food manufacturing and in metal industry increasing both reaching Dh0.8 bn, for respective quarter growths of 16.8 per cent and 12.4 per cent. Exports of members in the other manufacturing subsectors grew to Dh1.5 bn, representing a quarter growth of 43.6 per cent.

Exporters in the trading sector continued to dominate the field, with their combined exports reaching Dh33.6 bn, or 84.5 per cent of the total exports during the quarter. In terms of quarter growth, however, the value represented a growth of only 6.5 per cent. This relatively slower growth was mainly due to the 20 per cent decline in the exports of members in the textiles and garments trading, from Dh0.9 bn in the first quarter to Dh0.72bn in the second quarter. In addition, exports of members in the motor vehicle trading and in general trade posted low increases of 1.2 per cent and 0.6 per cent respectively, for equivalent export values of Dh2.4 bn and Dh8.3 bn.

On the other hand, exporters in the trading of inputs, household goods and machinery posted the biggest increases of 10.8 per cent, 18.6 per cent and 10.4 per cent, respectively, for equivalent export values of Dh6.8 bn, Dh2.6 bn, and Dh8.5 bn in the second quarter.

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