Saudi Electricity Company Secures SAR 13.4 Billion Financing Facilities to Finance Long-term Growth, Saudi Arabia-Egypt Electricity Interconnection Project    Large fire Erupts on Greek Island of Thasos, Village evacuated    Disney overtakes Netflix in battle for subscribers    Crimea airbase badly damaged after explosions, satellite images show    South Korea's Heavy Rain Casualties Rise to 11 Deaths, 8 Missing    Pact inked for $49 million additional Saudi development loan for Albanian road project    MoE seeking public opinion on opening Saudi branches of foreign universities Academic excellence is on top among the criteria    Crown Prince to patronize second Saudi International Maritime Forum in November    Saudi Arabia Is Set to Host Arab Radio & TV Festival in November    Real Madrid Wins European Super Cup for 5th Time in History by Beating Frankfurt    Custodian of the Two Holy Mosques receives written message from Bangladesh president    KSrelief Distributes Over 42 Tons of Food Baskets in Taiz Governorate, Yemen    KSrelief holds joint meeting with UNHCR and WHO in Poland    Qatar Stock Exchange Ends Trading Higher    Saudi National Beach Soccer Team Arrives in Morocco to Participate in Casablanca Beach Soccer Cup 2022    Saudi Stock Exchange Main Index Ends Trading Higher at 12431 Points    Ministry of Finance, National Debt Management Center Sign MoU with SNB Capital on Development, Launch of Individual Savings Sukuk    Whale winched out of French river in rescue mission    How Aamir Khan adapted Forrest Gump to Bollywood Laal Singh Chaddha    Agricultural Development Fund Signs Contract to Finance Importing 130,000 Tons of Barley with Value of SAR 150 Million    Custodian of the Two Holy Mosques Congratulates Head of Transitional Military Council and President of Chad on Independence Day    Fast food giant Domino's pulls out of the birthplace of pizza    WHO calls for optimizing brain health to benefit people and society    GASTAT: Industrial Production Index increases by 20.8% in June 2022    More breathing devices needed for premature babies born in Ukraine    Ukraine war must end with liberation of Crimea: Zelensky    'Rise of the Witches': Biggest series to be ever made in Saudi Arabia    SAR trains carry over 2.3m passengers, 6.75m tons of goods in H1 of 2022    Victory becomes the sweetest for Al-Marzouki with a warm touch of motherly affection    Korean girl group Blackpink to play in Riyadh during 2023 world tour    Buraidah date festival sales exceed SR62m in one week    Manchester United must let Ronaldo leave, says Rooney    Saudi Arabia wins gold in Special Olympics Unified Cup in Detroit    Saudi team for Special Olympics Unified Football wins gold medal of World Cup    Evergrande gets $818m as football stadium land deal canceled    Egyptian U20 Football National Team Beats Algerian Counterpart to Qualify for 2022 U-20 Arab Cup Final Match    Saudi Arabia to Participate in the 5th Islamic Solidarity Games in Turkiye    Association of Culture and Arts in Dammam Announces Winners of "International Video Art Forum"    Slaughterhouses of MEWA received more than 600,000 sacrifices in 3 days of Eid    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    MoH Activates Sign Language to Communicate with Pilgrims with Deafness or Muteness During Hajj    Sheikh Al-Issa at Arafat sermon: Values of Islam foster harmony; eschew hatred and division    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Council of Scholars urges pilgrims to stay away from divisive acts    Red Sea Fund Opens Its Third Cycle for Production Funding    SFDA Warns Against Herbal Product "Montalin Jamu" Due to Containing Active Medicinal Ingredients    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    Pilgrims Perform Dhuhr and Asr Prayers at Arafat Holy Site    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi Arabia biggest export & re-export market of Dubai
Published in The Saudi Gazette on 19 - 11 - 2008

Saudi Arabia overtook Iran to become Dubai's largest export/re-export destination in the third quarter, with total value of export/re-export to Saudi Arabia reaching AED12.3 billion, or 21.7 percent of the total export.
The GCC countries accounted for the major share to total exports of Dubai Chamber members during the quarter. Goods destined to the region, with a total value of AED 29.9 billion, accounted for about half (52.8 percent) of total exports, growing at quarter-on-quarter rate of 6.8 percent. Despite the 2.9 percent decline in exports to Qatar, the country remained as the second largest destination in the GCC, with value of exports reaching AED5.8 billion.
Exports to Kuwait grew by 13.9 percent to reach AED3.1 billion, while exports to Oman increased steadily by 23 percent, to reach AED2.4 billion, Bahrain remained to be the smallest market, despite the 11.7 percent growth of exports to a total value of AED1 billion.
Trade between the domestic market of the UAE, its free zones and duty free shops reached AED5.3 billion, representing a growth of 18.3 percent for Q3-2008.
On the other hand, exports to Iran posted a double-digit quarter decline of 15.4 percent to a total value of AED11.8 billion, down by more than AED2 billion from a total value of AED 14 billion registered during the previous quarter.
Total export to other destinations decline from AED7 billion in the second quarter to AED5.2 billion in the third quarter, posting a quarter decline of 25.7 percent.
Exports to Lebanon and Oman post the largest quarter increases
Exports to destinations that had posted quarter growth in Q3 of 2008 contributed a total increase of AED4.8 billion from their corresponding exports in Q2 of 2008.
Leading the list of top growth contributors was Lebanon. Total export to Lebanon in Q3-08 amounted to AED915 million, registering a quarter growth of 114 percent and contributing AED487 million to the total increase in exports during the quarter, Lebanon had jumped from the 19th position in Q2-08 to be placed in the 12th for Q3-08. Posting a quarter increase of AED 454 million, Oman was the second largest contributor to export growth of Dubai in Q3-08, valued at AED2.4 billion, representing quarter growth of 23.3 percent. Meanwhile export to Egypt posted a significant quarter growth of 28 percent remained the country similar to its positioning in Q2-08.
In terms of growth rate, Chad topped the list, growing from a total export value of only AED31 million in Q2-08 to AED241 million in Q3-08, for a growth of more than six folds. Consequently, from a rank of 31st largest markets in Q2-08, the destination jumped to rank 21st. Other markets which contributed more than AED 100 million to export growth during the quarter were Kuwait Libya, Jordan, Saudi Arabia, India and Bahrain.
Exports to Iran and American Samoa represent the largest quarter declines.
Major destinations that declined in Q3-08 contributed to a loss of AED5.8 billion, to their corresponding export value in the previous quarter.
Leading the list was Iran, with exports to the country representing a decline of AED2.2 billion from the previous quarter value. In terms of rate of decline, however, export to American Samoa posted the largest decline of AED802 million, it was mainly because exports to the market surged to an unprecedented heights in the previous quarter, but which was not sustained.
Other destinations that had significant contributions to the declines in exports in Q3-08 were Algeria, USA, Yemen, Indonesia, Sudan, Qatar and China. __


Clic here to read the story from its source.