DUBAI 19 September 2018: Dubai’s non-oil foreign trade was recorded at Dh645 billion in the first half of 2018; an increase of Dh5 billion from 2017 figures.
Dubai’s re-exports registered a Dh24 billion increase and grew 14 per cent to Dh203 billion, which reflects the robust and healthy position Dubai leads as a distinctive regional and international re-export hub. Imports touched Dh377 billion and exports totalled Dh65 billion.
The emirate’s free zones foreign trade scored an increase of 20 per cent, Dh43 billion in the first half of 2018 to Dh257 billion. Re-export activity through free zones touched Dh112 billion; with a 31 per cent increase from the same period in 2017, while exports through free zones made a 23 per cent increase to Dh8 billion, and imports through free zones made Dh136 billion; an increase of 12 per cent compared to the same period last year. Direct trade stood at Dh383 billion and customs warehouse trade weighed in at Dh6 billion.
Sheikh Hamdan bin Mohammad bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council praised the growth and said: “Dubai’s competitiveness plays a key role in attracting investments from around the world, which seek to take advantage of Dubai’s position as a regional and international trading hub.”
He said that trade is one of the key sectors that drives Dubai’s growth as a major global trading hub, which is supported by the emirate’s long heritage of being a gateway for global trade. “The current growth of Dubai’s non-oil foreign trade is an indication that we are on the right path of revenue diversification.”
Dubai’s airborne trade accounted for Dh302 billion while seaborne trade recorded Dh237 billion. Trade conducted through land transportation weighed in at Dh106 billion.
China Tops Again
China maintained its position as Dubai’s biggest trading partner in the first half of 2018 with Dh69 billion worth of trade. This reflects the strong ties between China and the UAE which witnessed remarkable development underlined by the Chinese President’s recent state visit to the UAE.
India came second with Dh56 billion, followed by the USA in the third place with Dh39 billion. Saudi Arabia remains the largest Arab trade partner to the UAE and comes as its fourth largest global trade partner with Dh29 billion.
Gold Top Commodity
Gold topped the list of high-value commodities in Dubai’s foreign trade in the first half of 2018 with Dh76 billion worth of trade. Next on the list was phones with Dh75 billion worth of trade, followed by jewellery (Dh51 billion), diamonds (Dh47 billion), and cars with Dh33 billion.