ID :
42982
Thu, 01/29/2009 - 13:09
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https://oananews.org//node/42982
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Dubai's non-oil trade grows to reach Dh934.7bn in 2008
Dubai, Jan 29, 2009 (WAM) - Dubai's non-oil foreign trade with the rest of the world grew 38pc in 2008 to Dh934.7bn compared to Dh678.5bn in 2007.
The figures released by Dubai World's Statistics Department highlighted growth in trade by Dh256.2bn.
Commenting on the strong growth, Saeed Al Qaizi, Director of Procurement, Contracts and Statistics, Dubai World, said that Dubai's total foreign trade has maintained its steady growth pattern in 2008, reflecting the emirate's basic economic strength.
'Even during times of global economic fluctuations, Dubai has stayed on course of positive growth. A close study of the trade trend over the past 10 years shows that this pattern will continue in the coming years and Dubai will remain the leading trading hub in the region,' he noted.
Nassim Al Muhairi, Senior Manager of Statistics Department, said: 'Results show that direct trade volume surged by 44pc, reaching Dh612.7bn in 2008 compared to 2007 when it was Dh425.4bn. The biggest growth was marked in the exports sector, which rose by 58pc from Dhs27bn in 2007 to approximately Dh42.6bn in 2008. This Dhs14bn increase underlines the sound nature of the national economy.
'Imports grew by 48pc, rising from Dh297.7bn in 2007 to Dh441.4bn in 2008. The re-exports sector recorded growth by 28pc from Dh100.6bn in 2007 to Dh128.6bn in 2008,' she said.
Foreign trade through Dubai's free zones increased by 29pc in 2008 compared to the previous year, rising from Dhs237.7bn to Dhs307bn. Imports recorded 33pc growth, from Dh141.6bn to Dh187.8bn, whereas exports rose by 24pc, Dh96.1bn to Dh119.1bn.
Al Muhairi also noted that trade across customs warehouses dipped by two per cent last year compared to 2007 - from Dh15.2bn to Dhs14.9bn. Imports recorded a fall of 1pc from Dh13.9bn to Dh13.8bn and exports receded by 17pc from Dh1.3bn in 2007 to approximately Dh1bn in 2008.
The Statistics Department's study showed that China ranked as Dubai's top partner in imports with respect to direct non-oil foreign trade in 2008 at Dh57bn, while India came second at Dh48bn, followed by the US at Dh34.5bn.
In exports, India was on top last year, at Dh17.3bn, followed by Switzerland at Dh2.7bn. Exports to Jebel Ali Free Zone were at approximately Dh2bn. In re-exports also India maintained its first place with Dh32.8bn worth of trade, followed by Iran at Dh20.3bn and Iraq at Dh8.9bn.
China again ranked first in 2008 in imports through free zones, with Dh37.2bn trade followed by the US at Dh16.2bn and Japan at Dh15.2bn.
Iran was the main export destination in free zone with trade at Dh18.6bn, followed by Saudi Arabia at Dh12.8bn and India at Dh12bn.
The figures released by Dubai World's Statistics Department highlighted growth in trade by Dh256.2bn.
Commenting on the strong growth, Saeed Al Qaizi, Director of Procurement, Contracts and Statistics, Dubai World, said that Dubai's total foreign trade has maintained its steady growth pattern in 2008, reflecting the emirate's basic economic strength.
'Even during times of global economic fluctuations, Dubai has stayed on course of positive growth. A close study of the trade trend over the past 10 years shows that this pattern will continue in the coming years and Dubai will remain the leading trading hub in the region,' he noted.
Nassim Al Muhairi, Senior Manager of Statistics Department, said: 'Results show that direct trade volume surged by 44pc, reaching Dh612.7bn in 2008 compared to 2007 when it was Dh425.4bn. The biggest growth was marked in the exports sector, which rose by 58pc from Dhs27bn in 2007 to approximately Dh42.6bn in 2008. This Dhs14bn increase underlines the sound nature of the national economy.
'Imports grew by 48pc, rising from Dh297.7bn in 2007 to Dh441.4bn in 2008. The re-exports sector recorded growth by 28pc from Dh100.6bn in 2007 to Dh128.6bn in 2008,' she said.
Foreign trade through Dubai's free zones increased by 29pc in 2008 compared to the previous year, rising from Dhs237.7bn to Dhs307bn. Imports recorded 33pc growth, from Dh141.6bn to Dh187.8bn, whereas exports rose by 24pc, Dh96.1bn to Dh119.1bn.
Al Muhairi also noted that trade across customs warehouses dipped by two per cent last year compared to 2007 - from Dh15.2bn to Dhs14.9bn. Imports recorded a fall of 1pc from Dh13.9bn to Dh13.8bn and exports receded by 17pc from Dh1.3bn in 2007 to approximately Dh1bn in 2008.
The Statistics Department's study showed that China ranked as Dubai's top partner in imports with respect to direct non-oil foreign trade in 2008 at Dh57bn, while India came second at Dh48bn, followed by the US at Dh34.5bn.
In exports, India was on top last year, at Dh17.3bn, followed by Switzerland at Dh2.7bn. Exports to Jebel Ali Free Zone were at approximately Dh2bn. In re-exports also India maintained its first place with Dh32.8bn worth of trade, followed by Iran at Dh20.3bn and Iraq at Dh8.9bn.
China again ranked first in 2008 in imports through free zones, with Dh37.2bn trade followed by the US at Dh16.2bn and Japan at Dh15.2bn.
Iran was the main export destination in free zone with trade at Dh18.6bn, followed by Saudi Arabia at Dh12.8bn and India at Dh12bn.
