Dubai H1 exports grow 36pc to $12.2bn

Monday, 7 November 2011 00:00 - - {{hitsCtrl.values.hits}}

Dubai’s direct exports surged 36 per cent in first six months of the year to hit Dh45 billion ($12.2 billion) compared to Dh33 billion last year, according to official report.

Dubai Exports, an agency of the Department of Economic Development (DED) – Government of Dubai, said the direct imports also increased by 21 per cent to Dh214 billion as compared to last year’s Dh177 billion, while the total direct re-exports were valued at Dh86 billion versus Dh69 billion in the same period.

According to ‘Dubai Export Monitor Half Yearly Report for 2011,’ the total Free Zone exports were valued at around Dh5 billion while total Free Zone re-exports amounted to Dh81 billion in the first half.

“The start of this year has been very promising particularly in terms of trade and exports for Dubai. Exports are continuously growing with some products showing high potential to expand further.

Among these products were prepared foods, chemicals, cement, precious metals and base metals, which indicated existing market potential due to high re-exports in these categories,”Saed Al Awadi, chief executive officer, Dubai Exports said.

The top destinations of exports remained the same in this period with India taking the top spot with 45 per cent share of total exports from Dubai.

However, Iraq and Pakistan were no longer in the top list, which were among the top destinations in the first half of 2010, while the share of Saudi Arabia has increased, Al Awadi added.

Among other destinations in the list were Thailand, Hong Kong, Turkey, Singapore, Iran, Kuwait, and Switzerland.

Based on the report analysis, top destinations by region of Dubai’s exports in this period were in South and West Asia taking up 53 per cent; followed by West Europe at 12 per cent; East and Southeast Asia at 10 per cent; and Arab Gulf Cooperation Council (AGCC) at 10 per cent.

‘However, other Arab countries achieved a significant share of 7 per cent as a result of the Greater Arab Free Zone activation, while the African region, excluding the Arab countries, posted only 3 per cent of the total exports share,’ he added.

“The African region is among the key target market for Dubai exporters and its small share from the total exports by region suggested that we need to increase our trade facilitation to this potentially promising market.’ ‘The regional prioritisation will allow us at Dubai Exports to configure the plan for overseas regional offices with the main goal of assisting our members to increase their exports in major markets worldwide,” Al Awadi said.

Air transport continued to be the preferred mode of transport for Dubai exports with a 66 per cent share followed by sea transport with 30 per cent.

The road transport has increased by 4 per cent in 2011 versus 1 per cent in 2010 due to a more efficient trading across borders indicating less trade barriers with the neighbouring GCC countries.