Non-oil foreign trade in Dubai has increased by 13 percent from the previous year, reaching Dh344 billion in the third quarter of 2017.
The highest growth was recorded in the re-export sector by 34 percent and Dh103 billion, which is a strong growth improvement despite all the regional and economic conditions creating challenges.
Growth was recorded in all three trade components:
- Free zone trade growth by 21 percent
- Direct trade by nine percent
- Customs warehouses by eight percent
Cargo trade also saw growth, reaching Dh124 billion for sea trade, air Dh153 billion,and land Dh67 billion.
Foreign trading partners that Dubai engaged at large this year have shown strong indications of growth:
- China – Dh128.9 billion
- India – Dh74.1 billion
- USA – Dh62.4 billion
- Saudi Arabia – Dh44.7 billion
With the ‘Smart Dubai’ initiative, it has remained a major trading hub for digital equipment and jewellery. Again reaching heights in accomplished results:
- Gold – Dh120 billion
- Diamonds – Dh75 billion
- Motors – Dh52 billion
Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, said:
“Dubai’s resilience to external economic turbulence demonstrates the strong fundamentals of its economy and its ability to constantly find new avenues for growth.
Sustainability along with innovation and diversification are deeply embedded in Dubai’s economic strategies as well as its key initiatives.
New projects together with the hosting of Expo 2020 promise to provide another strong boost to its economic vitality. Dubai is well-positioned to further enhance its growth momentum in the years ahead.“