- Dubai direct exports amounted to AED45 billion in first six months of the year
Dubai Exports, an agency of the Department of Economic Development (DED) – Government of Dubai, revealed a 36% increase in Dubai’s direct exports during the first half of 2011 as compared to last year’s figures.
According to Dubai Export Monitor Half Yearly Report for 2011, Dubai’s direct exports in the first half of 2011 amounted to AED45 billion as compared to AED33 billion in the same period in 2010. Direct imports also increased by 21% to AED214 billion as compared to last year’s AED177 billion, while total direct re-exports were valued at AED86 billion versus AED69 billion in the same period. Meanwhile, the total Free Zone exports were valued at around AED5 billion while total Free Zone re-exports amounted to AED81 billion in the first half of 2011.
“The start of this year has been very promising particularly in terms of trade and exports for Dubai. Exports are continuously growing with some products showing high potential to expand further. Among these products were prepared foods, chemicals, cement, precious metals and base metals, which indicated existing market potential due to high re-exports in these categories,” Engineer Saed Al Awadi, Chief Executive Officer, Dubai Exports said.
The top destinations of exports remained the same in this period with India taking the top spot with 45% share of total exports from Dubai. However, Iraq and Pakistan were no longer in the top list, which were among the top destinations in the first half of 2010, while the share of Saudi Arabia (KSA) has increased. Among other destinations in the list were Thailand, Hong Kong, Turkey, Singapore, Iran, Kuwait, and Switzerland.
Based on the report analysis, top destinations by region of Dubai’s exports in this period were in South and West Asia taking up 53%; followed by West Europe at 12%; East and Southeast Asia at 10%; and Arab Gulf Cooperation Council (AGCC) at 10%. However, other Arab countries achieved a significant share of 7% as a result of the Greater Arab Free Zone activation, while the African region, excluding the Arab countries, posted only 3% of the total exports share.
“The African region is among the key target market for Dubai exporters and its small share from the total exports by region suggested that we need to increase our trade facilitation to this potentially promising market. The regional prioritisation will allow us at Dubai Exports to configure the plan for overseas regional offices with the main goal of assisting our members to increase their exports in major markets worldwide,” Al Awadi said.
Air transport continued to be the preferred mode of transport for Dubai exports with a 66% share followed by sea transport with 30%. The road transport has increased by 4% in 2011 versus 1% in 2010 due to a more efficient trading across borders indicating less trade barriers with the neighbouring GCC countries.
