Dubai non-oil foreign trade surged by 13% in 2012 to AED 1.235 trillion compared with AED 1.089 trillion in 2011 as result of increase in exports value by 47% to AED 163 billion and rise in imports by 12% to AED 737 billion while re-export trade registered a growth by 5% to AED 334 billion.
On the occasion of this, His Highness Sheikh Hamdan Bin Mohammed Bin Rashid AL-Maktoum, Crown Prince of Dubai, said:
“As Dubai continues to diversify and expand its economic base, trade still remains to be one of the basic pillars of the entire economic foundation for the Emirate. While Dubai’s trend of bolstering its position as the world’s capital for Islamic economy, the business role is growing to be a main stream of this trend, particularly, within availability of great growing markets opportunities around Islamic world
His Highness, Crown Prince of Dubai pleasantly expressed his satisfaction with the fruitful outcomes achieved in the domain of business sector, especially, at the level of foreign trade, ascertaining that the sons of the homeland have demonstrated ever unrivalled capabilities of implementing systems and solutions which parallel to the global markets challenges and ensure best local economic outcomes while taking into account that Dubai’s foreign trade is significantly considered to represent an excellent pattern for the Emiratis to fulfil best forms of achievement
His Highness, explained that Dubai’s sustainable business activities growth interdependently built on a number of components, including the government backbone support to business sector, strong and balanced relations which interlink our country with other nations worldwide- oriental and occidental along with the continual growing economic commitments which the trade activities exchanges presumed one of its vital pillars, in addition to Dubai’s robust and highly developed infrastructure which we always seek to modernize and update in compliance to best world-class standards, to ensure further and stronger performance for the upcoming few years, likely as to the Emirate’s economy year performance which has been transformed to a new era of powerful growth as indicated by figures and statistics of last year”.
And during the press conference in which the volume of Dubai’s non- petroleum external trade 2012 was demonstrated, Ahmed Butti Ahmad, Executive Chairman of Ports, Customs and Free Zone corporation, Director General of Dubai Customs revealed: “Dubai
Customs paced with Dubai`s new economic surge in 2012 starting off from the sharp vision of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister and Ruler of Dubai that laid down robust basis to keep on success and achievement with the rising economic growth at rapid rhythm supported by outstanding performance by the majority of economic sectors namely; trade,” said HE Ahmed Butti Ahmed, the Executive Chairman of Ports, Customs and Free zone and Director General of Dubai Customs during a press conference at which he announced the volume of Dubai`s non-oil foreign trade in 2012.
Butti explained that the direct trade constituted about 65% of Dubai`s total non-oil foreign trade amounting to AED 808bn, while free zones made up 34% worth of AED 417bn and customs warehouses trade recorded AED 10bn, representing 1% of the total non-oil foreign trade.
Trade exchange continued to grow through all transport means. Trade through air cargo amounted to AED 628bn, sea shipping AED 442bn and land transportation AED 165 bn.
He added, "This steady growth of Dubai's trade with the world reflects the emirate’s role as a regional and global hub for trade, transport and logistics, relying on the increasing investments spent over the years to develop the pioneering infrastructure of the emirate, which took its seaports and airports to high level of development and enabled it to embrace regional and global trade movement on a large scope.
“Dubai Customs supported the ascending economic growth by improving the efficiency of services delivered to traders and customers, enabling them to clear their goods fast. Efforts exerted to advance our performance resulted in the announcement made by the WCO’s Columbus Diagnostic Mission Report, a new program
designed to develop customs work around the world, which named Dubai Customs a role model in the local, regional and international levels,” added Mr Butti.
“Dubai Customs places all its potentials at this stage to support the country’s bid to host the 2020 World Expo in Dubai, joining hands with all federal and local organizations to serve this purpose, as Dubai has proven over the years that it can host major conventions and worldwide exhibitions successfully,” he said.
In regard of trade partners, China has topped the list of major trading partners of Dubai in view of imports, with a share of 15% valued at AED 111 bn, followed by the USA with imports reaching AED 69bn that represent 9.33% of the total Imports of Dubai, then India with imports amounting to AED 68bn, representing a share of 9.28%.
On the other hand, Switzerland came first among Dubai trade partners in regard of exports, with 34% share of the total, amounting to AED 56 bn. India came second with exports amounting to AED 32bn that represent 20% of total Dubai exports. In the third place was Turkey with goods worth of AED 10bn, representing 6%, were exported to it.
In re-export, India tops the list with products valued at AED 51bn, representing 15% of the total, followed by the KSA with AED 33bn that represent 10% of this trade. Iraq is in the third place with a share of 7.3%, amounting to AED 24 bn.
Trade with Arab countries witnessed a growth by 26% amounting to AED 196bn with all Arab countries. Moreover, Dubai trade with GCC countries generated AED 95bn, 28% increase compared to the same in 2011.
Raw and half manufactured gold continued to top the list of Dubai's imports with a share of 18% of the total Dubai imports as it amounted to AED 132bn , followed by communications networks equipment that worth AED 53bn representing 7% of the total imports, and rough diamonds with AED 46bn, reaching 6%.
For the exports, gold obtained the lead at a value of AED 104 billion representing 64% of the total exports followed by raw aluminum exports, which amounted to AED 5 billion with a share representing 3% then petroleum oils being ranked in the third place constituting 2.7% equivalent to AED 4 billion.
As regard to re-exportation, telephones came in the first place at a value of AED 50 billion representing 15% followed by diamond with a value of AED 46 billion representing 14% of the total exports then jewelry and precious metals worth AED 22 billion with a share of 7%