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FINANCIAL NEWS
Dubai’s Q1 trade with Egypt up 36%
27 Jun 2012
(MENAFN) Official statistics showed that Dubai’s trade with Egypt grew by 36 percent to USD599 million during the first quarter of this year compared to USD435.5 million a year earlier, Trade Arabia reported.
Dubai’s total imports from Egypt during the period stood at USD146.9 million, up from USD131.7 million a year earlier, according to figures from Dubai Customs.
The Gulf emirate’s exports to Egypt hit USD139.36 million, up from USD83.8 million during the same period last year, while re-exports from Dubai to Egypt reached USD326.6 million compared to USD216.4 million.
Dubai’s trade with Egypt reached USD2.28 billion last year, a 16-percent growth from the USD1.95 billion recorded in 2010.
UAE’s long-term strategic investments in Egypt, designed to support its economy, also grew to USD5 billion, and are forecasted to increase further in the coming years.
UAE’s investments in Egypt include agriculture, industry, real estate and tourism sectors.
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