ID :
120068
Mon, 05/03/2010 - 16:26
Auther :

DUBAI RECORDS 13.5 BLN DIRHAMS IN NON-OIL TRADE WITH MALAYSIA




DUBAI, May 3 (Bernama) -- Dubai reported total non-oil trade with
Malaysia of 13.5 billion dirhams in 2009, making the latter its 14th largest
trading partner for non-oil products.

(Dirham 1=RM0.86)

However, with total exports reaching only 522 million dirhams, the trade
balance was highly in Malaysia's favour, according to a study by the Dubai
Chamber of Commerce and Industry (Dubai Chamber).

It pointed out that Malaysia was the biggest trading partner of Dubai among
Southteast Asian countries, and expressed confidence that trade between
Malaysia and United Arab Emirates as a whole, would remain robust.

Data showed that Dubai's total non-oil trade with Malaysia had expanded
from just about four billion dirhams in 2002 to a little less than 17 billion
dirhams in 2008.

Imports from Malaysia accounted for less than three per cent of Dubai's
total imports, according to the study.

Alluding to vegetable oil products, it said the import value reached a peak
of 795 million dirhams in 2008 but the slowdown in global trade in 2009, brought
the total value down by 59 per cent to 323 million dirhams.

"Although import of the products accounts for just about 0.2 per cent of
Dubai's total imports, about half of the value was supplied by Malaysia. In
2009, however, Malaysia's share in Dubai's import market for the products
dipped to 39 per cent," the study said.

For wood and wood products, Dubai's imports of such items from Malaysia
had been growing consistently, peaking in 2007 at 467 million dirhams.

However, the value started to dip earlier in 2008 and continued to decline,
to 187 million dirhams in 2009.

"Imports of the products from Malaysia accounted for about 15 per cent of
Dubai's imports of such items prior to 2005. Thereafter, the share
continuously dipped, reaching a low of seven per cent in 2009," the Dubai
Chamber noted.

It said Malaysia had risen to become one of the major participants in
Dubai's trade in precious stones/metals, It supplied about four per cent of
Dubai's total imports of the products.

Figures indicated that Dubai's imports of such items from Malaysia rose to
5.6 billion dirhams in 2008 but declined to 4.8 billion dirhams in 2009.

On the other hand, imports of electrical and electronic equipment from
Malaysia had been relatively stable at an annual value of between two billion
dirhams and 2.5 billion dirhams between 2002 and 2006.

In 2007, the value rose to 3.3 billion dirhams and 4.5 billion dirhams in
2008, before falling slightly to 4.1 billion dirhams in 2009.

Imports of the products from Malaysia accounted for about six per cent of
Dubai's total imports in the sector, and about a third of total imports from
the country.

-- BERNAMA



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