Dubai’s international trade up 30%

Dubai’s non- petroleum direct international trade shot up 30 per cent equivalent to more than Dhs235 billion in the end of the first quarter this year as compared to Dhs180 billion in the same period last year and Dhs159 billion during the same period of 2009. Dubai Customs most latest statistics reports showed that Dubai’s imports for the first 4 months in this current year expanded by more than 40 per cent with Dhs29 billion as opposed to Dhs20 billion during the period from January to April in 2010. On the other hand, the re-exports expanded to a higher growth during the first third of this current year, reaching to 38 per cent with a total value of more than Dhs61 billion comparable to Dhs44 billion for the same period of 2010. Ahmed Butti Ahmed, Executive Chairman of Ports, Customs and Free Zones, the Director General of Dubai Customs, explained that the total value growth of Dubai’s direct external trades turnover with external world is an indication evidently reflects quick recovery of business activities movement in Dubai with availability of future opportunities for more growth and productivity.    Director General of Dubai Customs said: “these achieved growth turnover indications predict availability of sustainable economic growth in Dubai and mainly target productive sectors of higher added value with intention of contributing in the improvement of individual’s incomes, prosperity and creating different sources of incomes” this secured growth is entirely reflected in areas of direct trades exchange which included exports in addition to re-exports and imports.” “The emerge of this growth is also in parallel with the strategy that followed by UAE in relation to the importance of enabling wide range of productivity, economic activities, establishment of mutual commercial and business relationships with nations worldwide, delivery of advanced excellent services, facilitation of simplified procedures across customs sea, land and air ports, all these together have contributory led the achievement of these positive outcomes,” he added. He further noted that: “The recorded growth rate in the re-exporting process during the first three months was approximate to the growth rates of the exports which surged to 37.68 with a value exceeding Dhs61.5 billion. He believes that this is in the first place an outcome of Dubai’s high capabilities in the high development infrastructure and the advanced set of legislations that meet top international standards which in their turn contributed to adding up to the efficiency of Dubai’s strategic location on the map as a major crossing hub for trade movement connecting east and west and granting further operational competency to the business community. Ahmed Butti highlighted that the recorded growth percentages in respect of re-exports within the first four months of the current year, were almost similar to the percentages achieved by the imports. The percentages surged to 37.68 per cent equivalent to more than Dhs61.5 billion. He attributed this achievement to Dubai’s high efficiencies and advanced infrastructures India maintain to rank to Dubai’s biggest direct trade partner in the first four months of this current year, the trades exchanges with Dubai reached to Dhs75 billion, occupies percentage of 37 per cent of Dubai’s total direct trades with outside world, while Dubai’s imports from India amounted to Dhs36 billion. values of re-exports from Dubai to India reached to Dhs26.68 billion while Dubai’s exports to India reached Dhs12.73 billion. China and USA stood at second and third place in the first countries exporting to Dubai with value of Dhs14 billion and Dhs10 billion accordingly. In terms of the top export destination for Dubai, Switzerland was at second place with value more than Dhs2 billion. Saudi came in the third place with more than Dhs1 billion. Diamond came first with a total of more than Dhs27 billion, followed by gold and platinum metals with value of more than Dhs23 billion and then gold, related parts and precious metals with value of more than $8 billion. Gold also took the first spot in the exports list with Dhs17 billion. It was followed by petroleum oil and waste & scrap of precious metals or ordinary metals with more than Dhs1 billion. From / Gulf Today