Dubai's non-oil foreign trade, including trade via free zones and customs warehouses, surged by 44.5 percent during the first nine months of 2008 ending in September, compared to the corresponding period in 2007, the latest report by Dubai World's Statistics Department showed. Dubai's direct foreign trade recorded a growth by 51.2 percent, with a corresponding rise of 33.4 percent in the trade activity through other channels such as free zones and customs warehouses, the report said. Saeed Al Qaizi, director of Procurement, Contracts and Statistics, Dubai World, said: “Dubai's non-oil foreign trade during the first nine months of 2008 recorded a massive jump of AED217.5 billion (around $59 billion), to reach AED705 billion (around $192 billion), compared to AED488.5 ($133 billion) last year during the same period.” “Direct trade during the January-September rose from AED304.4 billion in 2007 to AED460.3 billion in 2008. Imports jumped 52 percent, rising from AED215 billion to AED326.6 billion. Re-exports registered a remarkable rise from AED70 billion to AED101.3 billion, while exports increased from AED19.4 billion to AED32.2 billion,” he added. Al Qaizi pointed out that non-oil trade through the free zones and customs warehouses rose from AED184.1 billion during the first nine months of 2007 to AED 245.6 billion in the corresponding period in 2008, which amounts to a growth rate of 33.4 percent. Imports recorded a growth rate of 35.6 percent, rising from AED113 billion to AED153.3 billion. Export increased by 30 percent, rising from AED 71 billion to reach AED92.2 billion. Nassim Al Mehairi, acting manager of Statistics Department, said: “China topped the list of Dubai's main trading partners during the period in import, occupying the first place with AED 40.5 billion. India came second with AED37.2 billion followed by the US with AED 24.9 billion.” “India and Iran were the biggest re-export trading partners, accounting for AED29.3 billion and AED15.2 billion respectively. Iraq was in the third place with AED6.4 billion. In exports also India came first, accounting for AED13 billion. Switzerland was second with AED2.2 billion and Egypt came third with AED1.4 billion,” she added. Al Mehairi noted that China topped the list of Dubai's trading partners in non-oil foreign trade through free zones and customs warehouses, with AED28 billion, followed by India with AED15 billion and the US with AED12.5 billion. “In exports through the free zones and customs warehouses, Iran topped the list with AED13.7 billion, followed by India with AED10.5 billion and the Kingdom of Saudi Arabia with AED9.8 billion,” she said.
