Dubai non-oil trade jumps to Dh645b in first half of 2018

Emirate is on the right path to diversification, Hamdan says

Dubai’s non-oil foreign trade rose to Dh645 billion in the first half of 2018, an increase of Dh5 billion over 2017 figures.

Dubai’s re-exports registered a Dh24 billion increase, growing 14 per cent to Dh203 billion, reflecting the emirate’s strength as a re-export hub. Meanwhile, imports touched Dh377 billion and exports totalled Dh65 billion.

The emirate’s free zones saw an increase in foreign trade of 20 per cent, rising by Dh43 billion in the first half of 2018 to reach Dh257 billion. Re-export activity through free zones touched Dh112 billion, with a 31 per cent increase from the same period in 2017.

Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai and chairman of the Dubai Executive Council, said in a statement: “Dubai’s competitiveness plays a key role in attracting investments from around the world, which seek to take advantage of Dubai’s position as a regional and international trading hub.”

Shaikh Hamdan added that trade was a key driver of Dubai’s growth as a major global trading hub.

“The current growth of Dubai’s non-oil foreign trade is an indication that we are on the right path of revenue diversification,” he said.