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Dubai non-oil foreign trade falls to $262.9b in 9 months

Dubai non-oil foreign trade falls to $262.9b in 9 months

DUBAI: Dubai’s non-oil foreign trade fell marginally to AED966 billion ($262.9 billion) during the first nine months of 2015, according to official data.

Figures show that trade between January and September 2014 fell from AED988 billion during the same period last year.

A statement said Dubai had managed to contain the impact of the instability of the global economic environment, marked by a decline in commodity prices and currency rates, to maintain a strong economic performance in 2015.

It said imports had the biggest share of the overall trade with a value of AED597 billion while exports and re-exports totalled AED100 billion and AED269 billion respectively.

From January to September 2015, direct trade contributed AED603 billion of Dubai’s total foreign trade value; while free zones contributed AED340 billion and customs warehouses AED23 billion, added the statement, cited by news agency WAM.

Sultan Ahmed bin Sulayem, chairman of Ports, Customs and Free Zone Corporation (PCFC), and chairman of DP World, said: “Dubai has been exemplary in surmounting the impact of the trade and economic hardships the world is currently facing.

“The foreign trade sector has enhanced Dubai’s capacity to build sustainable economic growth. Alongside other economic sectors, particularly tourism, it has positioned Dubai as a leading global and regional trading and business hotspot, in spite of the general slowdown in the world economy,” he said.

According to the figures, Dubai has seen a “substantial upsurge” in the total volume of goods imported, exported or re-exported via the emirate.