Dubai's non-oil foreign trade crosses Dh1 trillion; India among top trading partners

Dubai - Dubai's non-oil foreign trade rises 6% in value in first nine months of 2019.

Dubai's non-oil foreign trade volumes surged to 83 million tonnes in the first nine months of 2019, an increase of 22 percent year-on-year from 68 million tonnes in the corresponding period last year.
The volume of re-exports skyrocketed 48 percent to reach 13 million tons. Exports rose by 47 per cent to 14 million tonnes while imports grew by 13 per cent to 56 million tonnes.
In terms of value, Dubai's external trade rose 6 per cent to exceed the trillion mark, reaching Dh1.02 trillion compared to Dh966 million in the same period in 2018.
Exports rose by 23 per cent to Dh118 billion, re-exports grew by 4 per cent to Dh312 billion, and imports rose 3 per cent to Dh589 billion.
Dubai achieved regular quarterly profits in 2019.
The third quarter saw the highest trade activity worth Dh343 billion, a growth of 7 per cent. The second quarter's trade activity witnessed 3 per cent growth to reach Dh337 billion while the first quarter's trade activity saw a 7 percent growth to reach Dh339 billion, compared to the same period in 2018.
"The strong performance of Dubai's foreign trade reflects the robust fundamentals of our economy and prepares us to take advantage of the new opportunities that will come in 2020 - the year that will mark a new push for transformational growth over the next 50 years," said Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council.
"We are confident our external trade sector will continue its strong growth momentum. Government teams are going above and beyond to develop new initiatives that will fast-track our trade growth. These include the Dubai Silk Road project, which will enhance Dubai's position as a leading trade and logistics hub. We are working on a virtual trade zone, the first of its kind in the world, which will considerably boost the development of e-commerce regionally and globally. All our various achievements will also enable us to host an exceptional EXPO 2020 and accelerate our growth and progress beyond the event."
India among top trading partners
China remained Dubai's largest trading partner, contributing Dh109 billion, a 6 per cent increase. India was the second biggest trading partner, contributing Dh100 billion, a growth of 16 percent, followed by USA with Dh57 billion and Switzerland with Dh47 billion.

Historic ties bring us together with China, Dubai's largest global trading partner, with trade worth AED109 billion, while India is our second-biggest partner, contributing AED100 billion and the United States our third, with AED57 billion in trade.
- Hamdan bin Mohammed (@HamdanMohammed) December 28, 2019