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DUBAI / WAM
Dubai’s non-oil foreign trade reached AED952 billion in first nine months of 2016. Imports had the lion’s share at AED 594 billion, while exports and re-exports accounted for AED109 billion and AED 249 billion, respectively, according to official figures.
Dubai saw a 11 percent surge in the total volume of traded goods in the first nine months of 2016, rising as high as 70.82 million tonnes of commodities.
During the period 46.81 million tonnes of goods were imported registering an increase of 12 percent, while exports and re-exports were 11.84 million tonnes with an increase of 8 percent and 12.17 million tonnes with an increase of 10.5 percent, respectively.
“To offset the impact of the general slowdown in world economy, lower commodity prices and the slump in oil prices, Dubai has wisely restructured and broadened its sources of revenue while taking considerable measures to stimulate growth in the affected sectors,†DP World Group Chairman and CEO and Chairman of Ports, Customs and Free Zone Corporation, Sultan Ahmed Bin Sulayem, said.
Dubai, according to Bin Sulayem,
has early on realised that attracting
foreign investments is a necessary must-do step.
“We are moving steadily towards the achievement of UAE Vision 2021 and Dubai Plan 2021, and working hard to maintain and raise the profile of Dubai as a regional and international trade hub following the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai,†bin Sulayem added.