Dubai’s trade with the GCC states totalled AED96.19 billion in the first nine months of 2015, according to latest statistics released by Dubai Customs. The trade grew by eight per cent compared with the same period of 2014.
Meanwhile, Saudi Arabia retained its position as the top trading partner of the emirate with an AED44.65bn worth non-oil trade, which represents 46.4 per cent of the total trade with the special grouping of Arab states.
The kingdom was followed by Oman, with a total trade of AED18bn, Kuwait (AED14.87bn), Qatar (AED11.91bn) and Bahrain (AED6.75bn).
Saudi has been at the helm in the trade with Dubai since 2010. From AED 32.2bn in 2010, the non-oil trade between the kingdom and the emirate surged 61 per cent to clock AED 51.7bn in 2014. The trade between Dubai and Saudi in the first three quarters of the past year, which included AED5bn of imports, exports worth AED6bn and re-exports valued at AED 33.49bn, jumped 12 per cent from the AED40bn scored during the same period of 2014.
“The GCC Customs Union, founded in 2003, has actively contributed to the growth of trade among the Gulf states, causing Dubai’s non-oil trade with the GCC states during the first nine months of 2015 to grow by eight per cent, reaching AED96.19bn, a figure that counts for ten per cent of the total value of Dubai’s foreign trade with all countries of the world for the same period, which stands at AED966bn,” said Ahmed Mahboob Musabih, Director of Dubai Customs.