Dubai’s non-oil trade reaches $102 bn

Dubai, Nov 2 (IANS/WAM) Dubai’s non-oil trade has reached 377 billion dirhams (about $102 billion) in the first eight months of this year, up 18 percent, compared to the figure in the same period last year.

Ahmed Butti Ahmed, Dubai Customs Director General, said the strategic location as well as flexible and competitive set of legislations contributed to the rise in the trade.

He said Dubai’s direct exports scored the highest growth rate in the past five years, exceeding up to 44 billion dirhams by August 2010 with a growth rate of 39 percent.

“This reflects on the trust put in the Emirati goods in external markets and proves its competitiveness and high quality,” Butti said.

The statistics issued by Dubai Customs also revealed a boost in the imports during the first eight months of 2010 with a total value of 239 billion dirhams, up 14 percent, compared to the figures in the corresponding period last year.

The figure shows that India has topped Dubai imports list with 45 billion dirhams. China came second with 29 billion dirhams followed by the US which contributed to the eight percent of Dubai’s total imports with a value of 18.7 billion dirhams.

–IANS/WAM