Dubai’s non-oil trade hits USD268.97b

28 Dec 2014

(MENAFN) According to the latest figures released by Dubai Customs, the emirate’s non-oil foreign trade has totaled USD268.97 billion during the January-September period of 2014, with imports reaching Dh621 billion, exports at Dh86 billion and re-exports hitting Dh280 billion, Emirates 24/7 reported.

The newly released data also showed that China has topped the list of trading partners during the cited period, with a trade value of USD34.30 billion, an increase by 27 percent compared with the same period as last year, followed by India with USD21.77 billion, the US with USD16.60 billion.

Meanwhile, Saudi Arabia was positioned 4th globally and 1st among Arab countries, with USD10.88 billion, followed by Germany at USD8.84 billion and increasing by 25 percent, while trading with Japan grew 13 percent to a value of USD8.43 billion.

During the first nine months of this year, the contribution of direct trade to Dubai’s total foreign trade value reached USD164.70 billion, while free zones contributed USD99.91 billion, and the customs warehouses USD4.35 billion.

In terms of non-oil commodities, phones topped the list, with an increase of 8 percent, amounting to USD35.22 billion, while trading of motor vehicles and individual-use cars, including station wagons and racing cars, climbed 31 percent to score USD13.23 billion, and computers recorded a 10 percent growth at USD10.88 billion, and petroleum oils grew 12 percent and amounted to USD8.30 billion.

“Dubai’s trade statistics for the first nine months of 2014 clearly show the emirate’s solid foothold as a regional and international trading and investment hub, as it maintained a high value despite the global decline in commodity prices. This reflects Dubai’s trading capability to increase the volume of foreign trade, including imports, exports and re-exports, to compensate for any drop in prices,” Director of Dubai Customs said.