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FINANCIAL NEWS
Dubai- Private sector trade up 9% in 2012
16 Jan 2013
(MENAFN) Dubai Chamber’s director general, Hamad Buamim, stated that the emirate’s private sector’s exports and re-exports in 2012 grew by 9 percent from a year earlier to USD73 billion, reported Arabian Business.
Buamim said that Dubai’s trade with both Iran and Syria plunged by over 50 percent, due to the political conditions in these countries.
However, exports and re-exports to Iraq soared by more than 350 percent to USD11.4 billion, while they hiked by 300 percent to Libya.
He added that the number of private companies that joined the chamber in 2012 grew by 9 percent, reaching 140,000.
It is worth noting that Dubai contributes with 75 percent of the UAE’s private-sector trade.
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