Non-oil trade hits Dh1.23t

Driven by a big surge in exports, Dubai’s non-oil foreign trade jumped 13 per cent in 2012 to Dh1.235 trillion compared with Dh1.089 trillion in 2011, figures released by Dubai Customs show.

Dubai’s exports recorded a 47 per cent surge in value to reach Dh163 billion, imports rose 12 per cent to Dh737 billion and re-exports grew five per cent to Dh334 billion in 2012.

Direct trade constituted about 65 per cent of Dubai’s total non-oil foreign trade valued at Dh808 billion, while free zones accounted for 34 per cent worth Dh417 billion and customs warehouses trade recorded Dh10 billion, representing one per cent of the total non-oil foreign trade. In 2012, Dubai’s trade with GCC countries grew by 28 per cent to Dh95 billion. Trade with Arab countries witnessed a growth by 26 per cent to Dh196 billion with all Arab countries.

Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, said trade still remained a basic pillar of Dubai’s economic foundation as the emirate continued to diversify and expand its economic base.

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