Dubai non-oil trade increases by 9.15% in 2006

Data compiled by Dubai World's Statistics Department on Monday (January 15) show a robust rise of 9.15 percent in this sector of the economy during 2006.

The statistics, based on information from Dubai Customs, showed that last year the value of non-oil trade stood at Dirhams 523.5 Billion as against Dirhams 479.6 Billion in 2005.

Sultan Ahmed bin Sulayem, Chairman, Dubai World, said,

"These results reflect the emirate's rapid economic growth in a relatively short span of time and what we can achieve in the global trade arena. There are many factors that have helped in pushing this economic expansion, especially the impressive growth in the real estate sector and the sharp increase in the number of international companies operating from Dubai including around 6,000 companies in Jebel Ali Free Zone which have also contributed to the robustness of our economy."

Adel Al Ashram, Senior Manager of the Statistics Department said, "Compiling the annual statistics for Dubai's foreign trade in a record time of just 15 days is a real achievement for us and is unmatched in the Middle East. These statistics play a crucial role in influencing decision makers and business leaders as they plot their strategies and future plans."

According to the figures released, direct non-oil foreign trade, that is trade carried out outside free zones, netted Dirhams 316.5 Billion as against Dirhams 280.4 Billion in 2005 - an increase of 12.8 per cent.

The emirate's imports have also increased by 15.5 per cent, from Dirhams 190.4 billion in 2005 to Dirhams 219.8 in 2006.

Exports recorded a massive 62.61 percent jump from Dirhams 11.2 Billion 2005 to Dirhams 18.2 billion last year. The increase has been attributed to the boom in the real estate sector and the ever-growing demand for construction materials.

Non-oil foreign trade through Dubai's various free zones rose by 8.9 per cent, from 177.8 Billion to Dirhams 193.6 Billion during the period under consideration.
Free zone imports shot up from Dirhams 99 Billion to Dirhams 111 Billion, while exports increased 5 per cent, from Dirhams 78.8 Billion 2005 to Dirhams 82.6 Billion 2006.

Non-oil trade through Dubai Customs was recorded at Dirhams 13.4 billion in 2006.

Meanwhile, the number of countries that have direct trade links with Dubai stands at more than 210 countries - a testimony to the UAE's liberal economic policies and investor-friendly climate.