UAE – Mubasher: The value of Dubai’s non-oil foreign trade grew 6% year-on-year to AED 1.02 trillion in the first nine months of 2019, the Emirates News Agency (WAM) reported on Saturday.
Exports rose by 23% YoY to AED 118 billion from January to September 2019, while re-exports grew by 4% YoY to AED 312 billion, and imports increased by 3% YoY to AED 589 billion.
"The strong performance of Dubai’s foreign trade reflects the robust fundamentals of our economy and prepares us to take advantage of the new opportunities that will come in 2020," Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, said.
Quarterly, Dubai’s non-oil external trade went up by 7% to AED 343 billion in the third quarter of the fiscal year 2019.
Chairman of Ports, Customs, and Free Zone Corporation, Sultan bin Sulayem, commented: "The strong growth delivered by non-oil foreign trade is a sign of how resilient the Dubai economy is. It also reflects Dubai’s success in developing its manufacturing facilities.”
China topped Dubai’s trade partners, with trade between the two countries reached AED 109 billion, followed by India, USA, and Switzerland, while Saudi Arabia remained the emirate’s largest Arab trade partner.
