Business | Economy
UAE wood imports climb 63%
The UAE witnessed a 63 per cent increase in wood imports in the last two years, with 2007 figures reaching Dh8.5 billion, according to market research.
- By Nadia Salem, Staff Reporter
- Published: 00:22 March 28, 2008
Dubai: The UAE witnessed a 63 per cent increase in wood imports in the last two years, with 2007 figures reaching Dh8.5 billion, according to market research.
Dubai Ports, Customs and Free Zone Corporation statistics indicate market growth of 25-30 per cent per annum, with certain segments enjoying higher growth rates. "Danube building materials have seen a 72 per cent increase in wood imports last year," said Rizwan Sajan, chairman of the company.
At annual imports of about Dh500 million, the company imports wood from Canada, Romania, Brazil, New Zealand and Asia.
He said the price of wood is relatively stable, with an increase of 5-10 per cent, unlike the increase in prices of steel and concrete.
"With all the buildings under construction, the wood market is going to see huge growth," he added.
More from Economy
More from Business
Business Editor's choice
-
‘Wrong Way' Krugman
The source of our economic malfunction lies with government-mandated bank regulations
-
Greek exit could make Eurozone stronger
Departure will show limits of bailouts and allow remaining members to act much more like a unit
-
UAE upholds values of free trade
Recently released statistics confirm an established fact, namely that of the UAE embracing the free trade principle in general and imports in particular
