Dubai – Mubasher: Dubai’s non-oil foreign trade grew by 5% year-on-year during the first half of 2019, recording AED 676 billion.

Exports surged 17% YoY to reach AED 76 billion in H1-19, while re-exports increased by 3% YoY to AED 210 billion and imports rose by 4% YoY to AED 390 billion, according to an official statement released on Saturday.  

“The strong performance of Dubai’s foreign trade reflects the robust fundamentals of our economy and our ability to generate fresh growth opportunities even in an adverse global environment,” crown prince of Dubai and chairman of the Executive Council of Dubai, Sheikh Hamdan bin Rashid Al Maktoum, said.

Dubai’s foreign trade from free zones went up by 12% YoY to AED 287 billion from January to June, while direct trade rose by 1% YoY to AED 386 billion and customs warehouses trade recorded AED 4 billion.

“The latest results point to Dubai’s rapidly growing trading links with the world’s fastest-growing economies. As the Dubai Silk Road project begins to take shape, the outlook for the emirate’s foreign trade is set to get even better,” Sheikh Hamdan commented.

Dubai’s trade partners

China topped the emirate’s trade partners, with a total trade of AED 71 billion during the six-month period ended June, followed by India and US, whose trade with Dubai registered AED 67 billion and AED 39 billion, respectively, in H1-19.

Saudi Arabia led Dubai’s Arab and GCC trade partners in the first half of the year, with a trade value of AED 27.7 billion.