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FINANCIAL NEWS
Dubai’s non oil trade grows 6.6% in Q1
26 Jun 2012
(MENAFN) Official statistics showed that Dubai’s non-oil foreign trade rose by 6.6 percent to more than USD81.1 billion during the first quarter, from USD76.13 billion a year earlier, Arabian Business reported.
Ahmed Butti Ahmed, executive chairman of Ports, Custom and Free Zone Corporation, and Dubai Customs director general, said that Dubai’s imports reached USD47.6 billion in the quarter, down from USD48.23 billion a year earlier.
Dubai’s exports and re-exports grew 8.5 percent to USD33.45 billion in the first quarter from a year earlier, Butti added.
A recent report from the World Bank ranked the UAE fifth in the world and first among Arab countries for facilitating cross-border trade.
According to the customs’ statistics, India was on top of Dubai’s trading partners in terms of imports, exports and re-exports, achieving a total value of over USD10.88 billion.
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