Media ININ Economy We Trust
Media IN DUBAI, 11th June, 2019 WAM
Dubai customs announced that Dubai had recorded a non-oil foreign trade of AED 339 billion in the first quarter of 2019, registering an increase of seven percent year-on-year from AED316 billion recorded during the same period last year.
Exports registered the most growth, rising 30 percent to reach AED42 billion while re-exports grew seven percent to AED106 billion and imports went up by four percent to reach AED190 billion.
Data released by Dubai Customs showed that Dubai’s Q1 2019 non-oil trade volumes increased by 32 percent to 28 million tonnes (21 million tonnes in Q1 2018). Exports rose by 94 percent to six million tonnes while re-exports surged 41 percent to four million tonnes and imports rose 16 percent to 17 million tonnes.
Dubai’s non-oil trade grew 58 percent in the 2010-2019 decade; an increase of AED124 billion from Q1 2010 which saw AED 215 billion.
Trade through free zones reached AED147 billion (+20 percent YoY). Direct trade was the largest contributor to total trade at AED189 billion (-0.5 percent YoY) and customs warehousing accounted for AED2.3 billion (-21 percent YoY).
Air and sea trade accounted for 85 percent of the total trade, with both witnessing double-digit increases. Air trade accounted for AED158 billion (+11 percent YoY) and sea trade recorded AED129 billion (+10 percent YoY). Trade by land reached AED52 billion.
