Dubai's non-oil direct trade grows by 8.3% in 1st half of 2006

According to a report compiled by the Statistics Department of Dubai World - the Dubai-based holding company with a global footprint - the value of direct non-oil trade between January and June climbed to Dirham 150.75 Billion from Dirham 139.22 Billion a year earlier (see Graph below).

The report showed the first half exports recording a massive 55.3 percent jump: from Dirham 5.50 Billion to Dirham 8.54 Billion, while imports went up by 9.9 percent, from Dirham 93.15 Billion Dirham 102.33 Billion for the same period.

The Statistics Department observed: "The sharp increase in exports, which included manufactured and processed goods as well as precious and semi-precious stones, is a highly positive sign of the growth trend in these key sectors of Dubai's economy."

The report also showed goods worth Dirham 39.87 Billion were re-exported through the emirate between January and June this year.

Giving a breakdown of figures for imports, exports and re-exports, the report listed the top three import categories:

1. Electrical, mechanical and industrial equipment made up 22.65 percent of the total import volume, with a value of Dirham 23.18 Billion.

2. Precious and semi-precious stones, metals and jewellery accounted for 22.17 percent, with a value of Dirham 22.69 Billion.

3. Transport equipment like vehicles of all types and related items formed 12.48 percent of total imports and were worth Dirham 12.77 Billion.

On the export front, gem stones, both precious and semi-precious, headed the list. In all Dubai exported Dirham 2.44 Billion worth of these items, forming 28.60 percent of total exports in the first half of 2006.

Metals and manufactured products accounted for 22.07 percent and were valued at Dirham 1.88 Billion, followed by food items at 11.25 percent of the total and at a value of Dirham 962 Million.

Various other goods made up the balance 38.08 percent of total exports.

Gemstones and jewellery also topped the re-export sector list, making up 33.44 percent of the total volume and were valued at Dirham 13.33 Billion.

Industrial machinery, electrical and electronic equipment accounted for 24.36 percent and a price tag of Dirham 9.71 Billion, while transport equipment valued at Dirham 4.07 Billion formed 10.21 percent of total re-exports.

The Statistics Department of Dubai World - one of the world's leading holding companies, with more than 50,000 employees in well over 100 cities around the globe - stated that between January and June this year, the scope of Dubai's direct trade expanded considerably.

According to the figures released, China (Dirham 12.11 Billion) and India (Dirham 10.73 Billion) were the main sources of Dubai's imports. They were followed by the United States (Dirham 7.77 Billion), Germany (Dirham 7.03 Billion) and Japan (Dirham 6.93 Billion).

On the export front, India was far ahead of others in the list, receiving Dirham 2.41 Billion worth of exports from Dubai, followed by Pakistan (Dirham 628 Million), Iran (Dirham 399 Million), the USA (Dirham 340 Million) and Switzerland (Dirham 312 Million).

Iran, however, beat India to become the favourite destination for re-exports from Dubai, with Dirham 6.92 Billion worth of goods transiting from here to Iranian shores.

India (Dirham 4.87 Billion) dropped to third place behind Switzerland (Dirham 5.26 Billion). Iraq (Dirham 2.78 Billion) and Pakistan (Dirham 1.55 Billion) were the other leading re-export partners during the first half of this year.