Dubai's non-oil direct trade rises to Dh231b

Dubai: Dubai's non-oil direct trade during the first nine months this year grew by 9.99 per cent to Dh231 billion compared to Dh210 billion for the same period in 2005, according to a latest report by Dubai World.

China, with exports worth Dh19.80 billion, tops the list of the leading trading partners followed by India, with an export bill of Dh17.10 billion.

Imports formed the largest part of Dubai's non-oil foreign trade reaching Dh158.78 billion, with diamonds, precious stones, semi-precious stones and precious metals topping the sector list with imports worth Dh34.46 billion.

Industrial equipment, machinery, electronics and spare parts accounted for Dh20.44 billion of imports, followed by the automotive industry, at Dh16.02 billion.

The re-export trade reached Dh59.43 billion with diamonds, precious stones and precious metals headed the re-export list with trade worth Dh19.19 billion, followed by electrical equipment and machinery where its transaction valued at Dh8.39 billion, while the boilers and machineries attained an Dh6.11 billion mark.

Causes

Dubai World, which also manages Dubai Customs, attributed the increase to general cross-sector growth in the economy, and particularly in the real estate market.

"That strong performance [in real estate] spurred healthy development in many other sectors such as tourism, commerce, industry and services," the company said in a statement. The diamonds, precious stones and precious metals trade led the export list, recording transaction valued at Dh3.23 billion, followed by aluminium and related products at Dh1.93 billion.

Sugar and confectionery exports fetched Dh860 million in orders.

Adel Al Ashram, Senior Manager for Statistics, Dubai World, said: "Our findings place China, with exports worth Dh19.80 billion at the top of the pile of exporters to Dubai, followed by India with Dh17.10 billion. Other major exporter to Dubai are the US with Dh11.50 billion, Germany exporting 11.14 billion and Japan with Dh10.66 billion."

The re-export business remains dominated by Iran recording a figure of Dh10.54 billion, followed by India Dh8.56 billion, Switzerland Dh6.05 billion, Iraq Dh4.20 billion and Pakistan Dh2 billion.

India was Dubai's top export destination with transaction worth Dh3.43 billion, ahead of Pakistan Dh1.01 billion, Iran Dh649 million, the US with Dh518 million and Kuwait with Dh83 million.