Dubai The value of Dubai's exports and re-exports grew 7.8 per cent to Dh63.5 billion in the first quarter compared with Dh58.9 billion last year, which the Dubai Chamber of Commerce and Industry says "clearly shows that Dubai's economy is firmly back in the saddle and ready to make giant strides".
The first quarterly report highlighting the 7.8 per cent rise in the value of exports and re-exports by members in comparison with the first quarter of 2011 confirms the status of the trade sector including exports and re-exports as one of the frontrunners of Dubai's economic growth.
During the quarter, the Chamber issued 177,502 Certificates of Origin, an increase of 5.3 per cent, compared with the 168,558 certificates issued in the first three months of 2011. January was the month with the highest number of certificates issued at 60,558.
In the quarter, 3,449 new members joined the Dubai Chamber, which increased the total to more than 131,900.
Hamad Bu Amim, Director-General of the Chamber, said the first-quarter results were encouraging and pointed to the continued strength of Dubai's economy while enhancing the emirate's position as a thriving investment destination.
Irfan Al Hassani, a business analyst, told Gulf News: "This year, authorities should continue to focus on increasing the exports of small and medium-sized enterprises [SMEs], enhancing competitiveness of local companies, and raising the level of their products to make them exportable."
