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FINANCIAL NEWS
Dubai exports, re-exports hit USD49.2b in August
09 Sep 2012
(MENAFN) Official data showed that Dubai’s August exports and re-exports increased 12 percent compared to a year earlier, Arabian Business reported.
The figures were based on the declared value of shipments in certificates of origin issued to a total of 9,929 members of Dubai Chamber between January and August.
Hamad Buamim, Managing Director of Dubai Chamber of Commerce and Industry, said total exports and re-exports hit a record USD49.2 billion, surpassing a previous one set in 2008.
He added that the record was achieved despite a 16 percent fall in the Gulf emirate’s exports month-on-month during August due to the impact of the holy month of Ramadan.
Saudi Arabia was the largest market for Dubai exports, reaching USD13.1 billion during the first eight months of the year, or 27 percent of the overall exports.
Certificates of origin issued for export shipments to Saudi Arabia totaled 145,810, which was equivalent to 29 percent of the total during the period.
During the January-June period, 3,865 members of Dubai Chamber have exported to the Gulf Kingdom compared to 3,782.
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