ID :
191800
Wed, 06/29/2011 - 14:03
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https://oananews.org//node/191800
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Dubai scores record growth in direct trade in first quarter of Dh183bn
Dubai, June 29, 2011 (WAM) - Dubai Customs announced a new record growth rate in Dubai direct trade exchange with the world by the end of the first annual quarter of 2011 to 34%. This year, it exceeded Dhs183bn as compared to Dh136bn for the same period last year.
Ahmed Butti Ahmed, Executive Chairman of Ports, Customs and Free Zone Corporation and Dubai Customs Director General stated that the statistics issued by the end of the first three months of this year demonstrated a rise in the weight of the exchanged goods in Dubai direct trade with the world reaching 11.92 million tons as opposed to 10.25 million tons in the same period last year which means an increase by 16%.
Ahmed Butti confirmed that the achieved increase in the value and weight of Dubai direct trade with the world reflects a growing improvement in the economic movement in Dubai and promising investment opportunities in the trade activities especially when Dubai exports value from the goods and products in the same aforementioned period jumped to around Dhs22bn as compared to Dhs15bn with an increase rate of 47%. He pointed out as well that the growth was largely manifested in the weight of the goods and products issued by Dubai to the international markets which exceeded 23% that is over 2 million tons by the end of the first three months of the current year as opposed to 1.7 million ton for the same period last year.
Ahmed Butti said:" The achieved growth indicators highlight an economic sustainable growth in Dubai and a clear emphasis on the productive value added sectors in boosting the GDP per capita, luxury and diversify income resources. "The growth accompanied all walks related to the direct trade exchange which besides exporting included re-exporting and importing" he noted.
He further noted: "The recorded growth rate in the re-exporting processes during the first three months of 2011 was close to the growth rates of the exports which amounted to 44% with a value exceeding Dhs49bn as compared to Dhs34bn" he believes that this is, in the first place, an outcome of Dubai's high capabilities through the highly developed 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 for trade movement connecting east and west and granting further operational competency to the business community.
Butti explained that the imports value which exceeded 61% of Dubai external trade with other countries worldwide, during the same period reached Dhs112bn against Dhs87bn with an increase rate of 28%. He highlighted as well that the volume of imports was over 8 billion tons only during the first three months of this year against 6.8 billion tons for the same period of the current year. Evidently, this ensures the growth of the purchasing power, increase of local demand on the goods and products and recovery of trade activities in the local markets. This positive indication reflects positively on the other business sectors in Dubai.
Butti assured that the declared statistical figures indicate tangible improvement in the trade activities at the free zones. During the first quarter of this year, the free zones trade activities increased to record more than Dhs95bn compared to Dhs78bn by 23% increase in the first quarter of 2010. This same improvement is also witnessed in the trade activities of the customs warehouses which proved to record Dhs1bn during the first three months of this current year, compared to Dhs633bn for the same period of last year with a growth rate of 68%.
India continued to top Dubai's largest direct trade partner list in the first quarter of this year, with bilateral transactions between the two countries amounting to over Dhs63bn during the first three months of the year, a percentage of 34 of the total direct trade with the world. As for Dubai's imports from India, they also amounted to Dhs30bn whereas values of re-exports from Dubai to India were estimated at Dhs22.68bn and value of goods and products exported to India stood at over Dhs10bn.
China and USA came second and third place in the list of countries exporting to Dubai with value of Dhs10.68bn and Dhs7.52bn respectively. In terms of the top export destination for Dubai, Switzerland was at second place with value of Dhs1bn followed by Saudi Arabia valued at Dhs919bn.
Butti anticipates that the Emirate of Dubai, during the upcoming period of this current year will continue to play its role in achieving similar growth with aspect to its trade activities with all countries worldwide, especially if we take into consideration the available current indications which embody the competitiveness of Dubai position as a renowned strategic hub for business sectors which provides support to maintaining productivity and quality standards as well as fulfilling facilities of economic systems in compliance with the international standards. - Emirates News Agency, WAM
Ahmed Butti Ahmed, Executive Chairman of Ports, Customs and Free Zone Corporation and Dubai Customs Director General stated that the statistics issued by the end of the first three months of this year demonstrated a rise in the weight of the exchanged goods in Dubai direct trade with the world reaching 11.92 million tons as opposed to 10.25 million tons in the same period last year which means an increase by 16%.
Ahmed Butti confirmed that the achieved increase in the value and weight of Dubai direct trade with the world reflects a growing improvement in the economic movement in Dubai and promising investment opportunities in the trade activities especially when Dubai exports value from the goods and products in the same aforementioned period jumped to around Dhs22bn as compared to Dhs15bn with an increase rate of 47%. He pointed out as well that the growth was largely manifested in the weight of the goods and products issued by Dubai to the international markets which exceeded 23% that is over 2 million tons by the end of the first three months of the current year as opposed to 1.7 million ton for the same period last year.
Ahmed Butti said:" The achieved growth indicators highlight an economic sustainable growth in Dubai and a clear emphasis on the productive value added sectors in boosting the GDP per capita, luxury and diversify income resources. "The growth accompanied all walks related to the direct trade exchange which besides exporting included re-exporting and importing" he noted.
He further noted: "The recorded growth rate in the re-exporting processes during the first three months of 2011 was close to the growth rates of the exports which amounted to 44% with a value exceeding Dhs49bn as compared to Dhs34bn" he believes that this is, in the first place, an outcome of Dubai's high capabilities through the highly developed 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 for trade movement connecting east and west and granting further operational competency to the business community.
Butti explained that the imports value which exceeded 61% of Dubai external trade with other countries worldwide, during the same period reached Dhs112bn against Dhs87bn with an increase rate of 28%. He highlighted as well that the volume of imports was over 8 billion tons only during the first three months of this year against 6.8 billion tons for the same period of the current year. Evidently, this ensures the growth of the purchasing power, increase of local demand on the goods and products and recovery of trade activities in the local markets. This positive indication reflects positively on the other business sectors in Dubai.
Butti assured that the declared statistical figures indicate tangible improvement in the trade activities at the free zones. During the first quarter of this year, the free zones trade activities increased to record more than Dhs95bn compared to Dhs78bn by 23% increase in the first quarter of 2010. This same improvement is also witnessed in the trade activities of the customs warehouses which proved to record Dhs1bn during the first three months of this current year, compared to Dhs633bn for the same period of last year with a growth rate of 68%.
India continued to top Dubai's largest direct trade partner list in the first quarter of this year, with bilateral transactions between the two countries amounting to over Dhs63bn during the first three months of the year, a percentage of 34 of the total direct trade with the world. As for Dubai's imports from India, they also amounted to Dhs30bn whereas values of re-exports from Dubai to India were estimated at Dhs22.68bn and value of goods and products exported to India stood at over Dhs10bn.
China and USA came second and third place in the list of countries exporting to Dubai with value of Dhs10.68bn and Dhs7.52bn respectively. In terms of the top export destination for Dubai, Switzerland was at second place with value of Dhs1bn followed by Saudi Arabia valued at Dhs919bn.
Butti anticipates that the Emirate of Dubai, during the upcoming period of this current year will continue to play its role in achieving similar growth with aspect to its trade activities with all countries worldwide, especially if we take into consideration the available current indications which embody the competitiveness of Dubai position as a renowned strategic hub for business sectors which provides support to maintaining productivity and quality standards as well as fulfilling facilities of economic systems in compliance with the international standards. - Emirates News Agency, WAM
