Dubai trade surges to Dh345 billion in six months

Dubai shows its resilience to weakening global demand for goods as its trade surges by nearly a quarter in the first half of the year.

Dubai shows its resilience to weakening global demand for goods as its trade surges by nearly a quarter in the first half of the year. ( Pawan Singh / The National )

Dubai's trade surged 24 per cent in the first six months of the year to Dh345 billion (US$93.9bn).

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The strong growth suggests the emirate has so far successfully negotiated a weakening in global trade demand.

Imports to Dubai rose to Dh214bn during the period, 21 per cent up from Dh177bn in the first six months of last year, data from Dubai Customs shows. Exports increased by 37 per cent to Dh45bn, from Dh33bn during the same period. Re-exports rose by a quarter to Dh86bn compared to Dh69 in the first half of last year.

Overall, non-oil trade rose from Dh279bn during the first six months of last year.

"The positive results of Dubai foreign trade reflect UAE leverage and robust economy and the recovery from the impacts of the world economic downturn," said Ahmed Butti Ahmed, director general of Dubai Customs.

It also signalled the emirate was benefitting from recent trade agreements made with several countries, he said.

Trade surpassed the value of goods exported and imported by the emirate before the global financial crisis of 2009.

India cemented its place as Dubai's most important trade partner during the period, accounting for as much as Dh100.5bn of overall trade. China and the US were the second and third most valuable trade partners.