DUBAI: Dubai’s non-oil foreign trade in 2016 reached Dh1.276 trillion despite the global slowdown with China the top partner.
Dubai’s external trade rose 70 per cent from Dh754 billion in 2009 to Dh1.276 trillion in 2016.
Imports took the lion’s share at Dh803 billion, while re-exports and exports accounted for Dh330 billion and Dh143 billion respectively.
While China maintained its position as Dubai’s leading trading partner with Dh166 billion in two-way trade (13 per cent of total trade), India came second at Dh94 billion (7.4% of total trade), followed by the United States at Dh86 billion (6.7% of total trade).
Saudi Arabia maintained its position as the top Arab and GCC trading partner and fourth globally with Dh52 billion (4.1%) of total trade. Germany stood fifth at Dh50 billion (3.9% of total trade).
Dubai saw an 8.2 per cent surge in the total bulk weight of traded goods in 2016, rising to 92 million tons of commodities from 85 million in 2015.
65% Direct Trade
Direct trade amounted for Dh830 billion (65% of Dubai’s total trade), followed by free zone trade at Dh411.44 billion (32%), and customs warehouse trade at Dh34.76 (3%).
In terms of shipment and freight transport, air cargo accounted for Dh592 billion representing 46% of Dubai’s total trade while sea freight contributed Dh452 billion (35%), and inland trade Dh232 billion (18%).
Mobiles Top Trade
The growth in trading of mobile phones and communication devices was a key feature of Dubai’s diversified foreign trade. Phones and communication devices represented the most traded commodity with a total value of Dh167 billion representing approximately 13.1% of Dubai’s total trade.
Gold came second at Dh156 billion (12%), followed by diamonds at Dh97 billion (7.6%), and jewelry in fourth place at Dh63 billion (4.9%). Automobiles came fifth accounting for Dh60 billion (4.7%).
– By Rajive Singh