FINANCIAL NEWS

Dubai Q1 trade up 34% to USD49.8b

29 Jun 2011

(MENAFN) Dubai Custom’s Director General, Ahmed Butti Ahmed, said that in the year’s first quarter, Dubai’s trade grew 34 percent reaching USD49.8 billion compared with USD37 billion in the same quarter a year ago, reported Emirates 24/7.

Ahmed, who is also the Executive Chairman of Ports, Customs and Free Zone Corporation, added that in the period, products that were exported and re-exported rose 16 percent to 11.92 million tones up from 10.25 million tones in 2010.

He also said that the expansion was largely driven by goods and products produced in Dubai which recorded 23 percent increase to over 2 million tones by the end of 2011’s first three months compared with 1.7 million tones for the same period a year ago.

It is worth noting that in the first quarter, imports exceeded eight billion tones up from 6.8 billion tones in 2010’s same quarter, whereas the free zones trade grew 23 percent reaching more than USD25.8 billion compared with USD21 billion.

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