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FINANCIAL NEWS
Dubai reports 22% rise in foreign trade
21 Sep 2010
(MENAFN) The Dubai Statistics Center said that the emirate’s direct foreign trade jumped by 22.17 percent to $39 billion compared to the same 2009 period, WAM reported.
According to the statistics center, the strong second quarter growth was mostly driven by a resurgent export sector that registered a 45.5 percent growth to reach $4.89 billion compared to $3.36 billion in the same 2009 period.
Following the strict implementation of UN trade sanctions against Iran, re-exports, which constitute a major share of Dubai�s foreign trade, is likely to face a setback in the third quarter. Traditionally, Iran has been Dubai�s major re-export destination, traders said.
In 2009, India was Dubai�s top import partner, having overtaken China, the report said.
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