eseoulpost
BusinessUAE
Dubai’s non-oil foreign trade delivers solid growth in H1-2019
min  |  min
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
승인 2019.10.06  
트위터 페이스북 미투데이 요즘 네이버 구글 msn
   

DUBAI, 5th October, 2019 (WAM) -- Dubai recorded a non-oil foreign trade of AED 676 billion in the first half of 2019, an increase of 5 percent year-on-year from AED 644 billion in the corresponding half last year.

The first-half figures, which represent a staggering growth of 87 percent from 2009, reflect the ability of the emirate’s trade sector to raise its strength and competitiveness despite a challenging global trade environment.

Exports registered the highest rise at 17 percent to reach AED76 billion while re-exports were up 3 percent at AED 210 billion and imports grew 4 percent at AED 390 billion.

Dubai’s non-oil foreign trade volumes surged 31 pc year-on-year in the first half of 2019. Data released by Dubai Customs showed that the total volume of the emirate’s foreign trade reached 56 million tonnes; a record jump from 43 million tonnes registered in H1 last year. Exports rose by 46 pc to 10 million tonnes, re-exports were up 39 pc to 9 million tonnes and imports increased 26 pc to reach 38 million tonnes.

Commenting on the non-oil foreign trade growth, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai said: "The strong performance of Dubai’s foreign trade reflects the robust fundamentals of our economy and our ability to generate fresh growth opportunities even in an adverse global environment. Dubai’s ability to maintain high levels of trade growth is a tribute to the vision and planning of its leaders who sought to drive economic diversification at an early stage and create a hard and soft infrastructure that empowers growth. Dubai has constantly worked to introduce innovative policies and services that facilitate global trade through Dubai, in the process, transforming itself into one of the world’s foremost trading hubs. Dubai’s flexibility, ability to adapt to change and its responsiveness to the needs of businesses and investors have made it a model for sustainable growth."

"The diversified profile of Dubai’s foreign trade reflects not only its strengths in traditional sectors but also its emergence as a hub and major market for technological innovation. The latest results also point to Dubai’s rapidly growing trading links with the world’s fastest growing economies. As the Dubai Silk Road project begins to take shape, the outlook for the emirate’s foreign trade is set to get even better," His Highness added.

The emirate’s foreign trade out of free zones was the biggest contributor to the increase in total trade in H1 2019 accounting for AED 287 billion (+12% YoY). Direct trade continued to be the largest contributor to total trade at AED 386 billion (+1% YoY). Customs warehouses trade accounted for AED 4 billion.

All transfer modes witnessed increases in value in H1 2019. Air and sea trade accounted for 83% of total trade. Trade by land saw the highest increase at AED 114 billion (+8% YoY), while air accounted for AED 311 billion (+3% YoY), and sea trade recorded AED 252 billion (+6% YoY).

Sultan bin Sulayem, DP World Group Chairman & CEO and Chairman of Ports, Customs and Free Zone Corporation (PCFC) said: "Undoubtedly these are challenging times with the global trade war and regional geopolitical tensions causing uncertainty and despite this backdrop, Dubai has delivered non-oil trade growth of 5% in the H1 2019 to AED 676 billion. With the continued upward trend of the foreign trade sector, we have reasons to be positive about the future of our national economy.

"The strong growth delivered by non-oil foreign trade is a healthy sign of how resilient and appealing the Dubai economy is, which further reinforces Dubai’s profile as a key regional and international trading hub."

Bin Sulayem further pointed out that the PCFC and Dubai Customs are constantly innovating and developing customs processes with the use of smart, automated technology-based systems to enable traders to do business more efficiently while saving them time and cost, which will boost growth further and add more value to trading across Dubai.

Asia Biggest Trade Partner, Trade with India Up 20%

While China remained the largest trading partner, there was a 20% growth year-on-year in trade with India. The top three trading countries by value remained the same as H1 2018 with the biggest trading partners being China, followed by India and the USA. These contributed AED 71 billion (+4% YoY), AED 67 billion (+20% YoY) and AED 39 billion (-1% YoY) respectively to the total value traded in H1 2019.

Saudi Arabia maintained its position as Dubai’s largest Arab and GCC trade partner and fourth globally with AED 27.7 billion. Switzerland came fifth at AED 26.5 billion worth of trade.

Trade in Precious Metals and Stones Up 3 pc

The total value of gold, diamonds and jewellery traded through Dubai in H1 2019 totalled AED 180 billion, an increase of 3% YoY. The telecom market (AED 79 billion) was the second highest contributor and trade in petroleum oils more than doubled from last year at AED 48 billion. Motors accounted for AED 33 billion.

 

 

< 저작권자 © eseoulpost 무단전재 및 재배포금지 >
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
트위터 페이스북 미투데이 요즘 네이버 구글 msn 뒤로가기 위로가기
이 기사에 대한 댓글 이야기 (0)
자동등록방지용 코드를 입력하세요!   
확인
- 200자까지 쓰실 수 있습니다. (현재 0 byte / 최대 400byte)
- 욕설등 인신공격성 글은 삭제 합니다. [운영원칙]
이 기사에 대한 댓글 이야기 (0)
Most Read
1
Taiwan rejects one 'country, two systems' in National Day address
2
Ministry of Economy, US delegation discuss ways of enhancing joint economic cooperation
3
Sharjah Ruler visits Naval Museum of Madrid
4
Russia keen on filling UAE’s food import demand, say experts
5
Saif bin Zayed unveils first floating smart police station
6
UAE's astronauts return home, receive hero welcome from Mohamed bin Zayed
7
S. Korea, Japan end 1st round of talks on trade row, agree to meet again
8
Dubai to host 2019 First Global DXB Challenge robotics event
9
Annual Countering Violent Extremism Research Conference presents top research from around the world
10
Khalifa bin Zayed Al Nahyan Foundation
Photo News Green Biz
ADNOC ranked amongst five lowest GHG emitters in oil and gas industry
ADNOC ranked amongst five lowest G...
min
World Green Economy Summit 2018 concludes
World Green Economy Summit 2018 co...
min
Restoration of nature requires actions of many :Al Zeyoudi
Restoration of nature requires act...
min
Al Zeyoudi to head UAE delegation to upcoming Global Climate Action Summit in California
Al Zeyoudi to head UAE delegation ...
min
Plastic wastes from Korea legal: MisOr ecozone exec
Plastic wastes from Korea legal: M...
min
Photo News Sports
Taiwan shuts out Japan to clinch U-12 Baseball World Cup title
Taiwan shuts out Japan to clinch U...
min
Mohammed bin Rashid receives trophy from Queen Elizabeth II on historic Royal Ascot win
Mohammed bin Rashid receives troph...
min
(U20 World Cup) S. Korea's Lee Kang-in wins Golden Ball as tournament MVP
(U20 World Cup) S. Korea's Lee Kan...
min
Taiwan recurve women's team win gold at Archery World Cup
Taiwan recurve women's team win go...
min
Dodgers' Ryu Hyun-jin wins 7th game of '19, has scoreless streak snapped at 32 innings
Dodgers' Ryu Hyun-jin wins 7th gam...
min
Special Olympics Flame of Hope arrives Wahat Al Karama ahead of event's grand opening
Special Olympics Flame of Hope arr...
min
Mohammed bin Rashid attends Super Saturday races at Meydan
Mohammed bin Rashid attends Super ...
min
Sharjah welcomes delegates of 24 countries participating in Special Olympics Abu Dhabi
Sharjah welcomes delegates of 24 c...
min
Photo News World
Taiwan shuts out Japan to clinch U-12 Baseball World Cup title
Taiwan shuts out Japan to clinch U...
min
Mohammed bin Rashid receives trophy from Queen Elizabeth II on historic Royal Ascot win
Mohammed bin Rashid receives troph...
min
(U20 World Cup) S. Korea's Lee Kang-in wins Golden Ball as tournament MVP
(U20 World Cup) S. Korea's Lee Kan...
min
Taiwan recurve women's team win gold at Archery World Cup
Taiwan recurve women's team win go...
min
Dodgers' Ryu Hyun-jin wins 7th game of '19, has scoreless streak snapped at 32 innings
Dodgers' Ryu Hyun-jin wins 7th gam...
min
Special Olympics Flame of Hope arrives Wahat Al Karama ahead of event's grand opening
Special Olympics Flame of Hope arr...
min
Mohammed bin Rashid attends Super Saturday races at Meydan
Mohammed bin Rashid attends Super ...
min
Sharjah welcomes delegates of 24 countries participating in Special Olympics Abu Dhabi
Sharjah welcomes delegates of 24 c...
min
Photo News Opinion
S. Korea confirms new African swine fever case
S. Korea confirms new African swin...
min
Samsung Electronics' Q3 earnings more than halve, beat market consensus
Samsung Electronics' Q3 earnings m...
min
World’s Best Age-Friendly Practices
World’s Best Age-Friendly Practice...
min
Civic demonstrators to hold rally for prosecutorial reform, justice minister this weekend
Civic demonstrators to hold rally ...
min
Industrial output up for 2nd consecutive month in August
Industrial output up for 2nd conse...
min
S. Korea struggling to determine cause of African swine fever outbreak
S. Korea struggling to determine c...
min
In New York, Moon underlines Seoul's stake in peace process, response to climate change
In New York, Moon underlines Seoul...
min
S. Korea reports 6th confirmed African swine fever case
S. Korea reports 6th confirmed Afr...
min
Newspaper AboutNews ReportAdvertiseComplaintsPrivacy PolicyJuvenile protectionRejection of E-mail Collection
Gangnam-gu, Teheran 52 street in Tehran Bldg, 616(Yeoksam-dong)  |  Main Phone: 02) 563-0604  |  Fax: 02) 538-5665
Chairman : jeong-woo Lee  |  Advisor : byung-il Min  |  Publisher: jae-mo Kah  |  Editors: il-hong Kim
Registration Number 1928 Seoul ah  |  eseoulpost.com / eseoulpost.net / Global Korea.,Ltd
Copyright © 2011 eseoulpost. All rights reserved. mail to jaemokah@daum.com , kih10kr@empas.com/ www.globalkorea.info
arabafrica.net / UAE Interract / Emirtes News Agency(WAM)/ http://wam.org.ae / www.uaeinteract.com