DUBAI TRADE IN FULL STEAM

Hosting Expo 2020 encourages us to further enhance trade and customs services

Sultan Ahmad bin Sulayem, Group chairman and CEO of DP World

Business sentiment is becoming more positive and hence Q4 2018 is expected to be even better

Atik Munshi, Senior partner, Crowe

dubai — Dubai’s non-oil trade remained steady during the first 9 months of 2018 despite political and trade war headwinds and tighter credit market conditions.

According to Dubai Customs data released on Tuesday, the emirate’s external non-oil trade in the first nine months of 2018 reached Dh965.3 billion as compared to Dh985 billion for the same period last year, a slight decline of nearly 2 per cent.

Re-exports registered 13 per cent growth to touch Dh299.2 billion, while imports remained at Dh592.2 billion. Exports totalled around Dh97.7 billion during the January to September period.

On September 27, the World Trade Organisation downgraded the outlook for global trade. It now anticipates growth in merchandise trade volume of 3.9 per cent in 2018 as compared to its previous estimate of 4.4 per cent.