Dubai’s non-oil foreign trade rises 6 pct to $277.74 billion by end of Q3 2019

Dubai’s non-oil foreign trade rises 6 pct to $277.74 billion by end of Q3 2019
December 29, 2019, 1:39 pm

Dubai’s external trade rose 6 percent to 1.02 trillion dirhams ($277.74 billion) in the first nine month of 2019, according to official government figures released Saturday.

Authorities reported that exports rose 23 percent to 118 billion dirhams, re-exports increased 4 percent to 312 billion dirhams, and imports rose 3 percent to 589 billion dirhams.

“The strong growth delivered by non-oil foreign trade is a sign of how resilient the Dubai economy is … Dubai trade is agile and it has strong access to new markets thanks to its reliability and transparency,” said Sultan bin Sulayem, DP World group chairman & CEO and chairman of Ports, Customs and Free Zone Corporation when commenting on the latest figures.

“We are confident our external trade sector will continue its strong growth momentum,” added Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai.

China remains Dubai’s largest trading partner at 109 billion dirhams in trade, a 6 percent increase. India took the second spot with 100 billion dirhams of trade, followed by the US in third at 57 billion dirhams.

Saudi Arabia remained Dubai’s largest Arab trading partner in fifth place globally with 42 billion dirhams worth off trade.

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