Thursday, June 30, 2022

Dubai non-oil foreign trade up 31% in first half of 2021

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(Reuters) – Dubai non-oil foreign trade grew 31% year-on-year in the first half of 2021 to 722.3 billion dirhams ($196.66 bln), the emirate’s media office said on Sunday.

Exports grew 45% to 109.8 billion dirhams, while imports rose 29.3% to 414 billion dirhams. Re-exports from the emirate, the Middle East’s trade hub, were up 28.3% to 198.6 billion dirhams in the first six months of the year.

“This marked growth in trade demonstrates the success of Dubai’s strategic plan to consolidate its position as a global logistics and trade hub that connects the world’s diverse markets,” Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, said in a statement.

Value of trade with China, Dubai’s largest trading partner, increased 30.7% to 86.7 billion dirhams, while value of trade with India, its second-biggest trading partner, grew 74.5% to 67.1 billion dirhams.

Trade with the United States increased 1% to 32 billion dirhams, while trade with Saudi Arabia, Dubai’s largest Arab trading partner, grew 26% to 30.5 billion dirhams.

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