Business | Economy
Non-oil trade grows 54.3% as Dubai rakes in half-year revenue of Dh296.6 billion
Dubai's non-oil direct foreign trade jumped by 54.3 per cent during the first half of 2008 ending in June compared to the same period in 2007, the latest report by Dubai World's Statistics Department revealed.
- Staff Report
- Published: 15:14 September 7, 2008
Dubai: Dubai's non-oil direct foreign trade jumped by 54.3 per cent during the first half of 2008 ending in June compared to the same period in 2007, the latest report by Dubai World's Statistics Department revealed.
According to the report, Dubai's direct foreign trade recorded a massive first-half jump by Dh104.4 billion (around $28.4 billion), to reach Dh296.6 billion (around $80.8 billion), compared to Dh192.2 billion ($52.3 billion) achieved last year during the same period.
Nassim Al Mehairi, Acting Manager, Statistics Department, Dubai World said: "Dubai's overall imports during January-June 2008 rose from Dh135.1 billion to Dh206.2 billion, which amounts to a growth rate of 52.7 per cent."
Dubai's exports also recorded phenomenal growth, rising by Dh7.5 billion in the first half of 2008 to reach Dh20.1 billion a growth rate of 59.1 per cent. Re-exports registered a similar remarkable 57.7 per cent growth to reach Dh70.3 billion, compared to the 2007 figure of Dh44.5 billion.
India topped the list of Dubai's main trading partners during the period in import, export and re-export sectors. In imports the bilateral trade volume during the period grew by 49.6 per cent, reaching Dh24.1 billion against Dh16.1 billion in the first half of 2007.
China moved from first to second place, showing a growth by Dh23.8 billion, compared to Dh18.3 billion during the first period of 2007 a growth rate of 29.9 per cent.
The US maintained its third place with Dh16.4 billion worth of imports during first quarter of 2008, against Dh9.2 billion in 2007, showing a growth rate of 76.4 per cent, the report said.
In re-export trading during first half of 2008, India again came on top of the list after coming second during the first half of 2007, recording a growth rate of 176.3 per cent, compared to the same period of the current year, rising from Dh7.9 billion to 21.9 billion.
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