Dubai's non-oil trade grows by 44.5% to Dh705bn in January-September 2008

According to the report, Dubai's direct foreign trade recorded a growth by 51.2%, with a corresponding rise of 33.4% in the trade activity through other channels such as free zones and customs warehouses.

Mr. Saeed Al Qaizi, Director of Procurement, Contracts and Statistics, Dubai World, said:

"Dubai's non-oil foreign trade during the first nine months of 2008 recorded a massive jump of Dhs217.5bn, to reach Dhs705bn, compared to Dhs488.5 last year during the same period."

"Direct trade during the January-September rose from Dhs304.4bn in 2007 to Dhs460.3bn in 2008. Imports jumped 52%, rising from Dhs215bn to Dhs326.6bn. Re-exports registered a remarkable rise from Dhs70bn to Dhs101.3bn, while exports increased from Dhs19.4bn to Dhs32.2bn," he added.

Al Qaizi pointed out that non-oil trade through the free zones and customs warehouses rose from Dhs184.1bn during the first nine months of 2007 to Dhs245.6bn in the corresponding period in 2008, which amounts to a growth rate of 33.4%. Imports recorded a growth rate of 35.6%, rising from Dhs113bn to Dhs153.3bn. Export increased by 30%, rising from Dhs71bn to reach Dhs92.2bn.

Nassim Al Mehairi, Acting Manager of Statistics Department, said:

"China topped the list of Dubai's main trading partners during the period in import, occupying the first place with Dhs40.5bn. India came second with Dhs37.2bn followed by the US with Dhs24.9bn."

"India and Iran were the biggest re-export trading partners, accounting for Dhs 29.3bn and Dhs15.2bn respectively. Iraq was in the third place with Dhs6.4bn. In exports also India came first, accounting for Dhs13bn. Switzerland was second with Dhs2.2bn and Egypt came third with Dhs1.4bn," she added.

Al Mehairi noted that China topped the list of Dubai's trading partners in non-oil foreign trade through free zones and customs warehouses, with Dhs28bn, followed by India with Dhs15bn and the US with Dhs12.5bn.

"In exports through the free zones and customs warehouses, Iran topped the list with Dhs13.7bn, followed by India with Dhs10.5bn and the Kingdom of Saudi Arabia with Dhs9.8bn," she said.