Dubai non-oil foreign trade rises to AED1.3trn in 2017

DUBAI / WAM

Dubai’s non-oil foreign trade in 2017 grew AED26 billion to reach AED1.302 trillion compared to AED1.276 trillion in 2016, enhancing Dubai’s position as global hub for trade despite the challenges faced by the global economy.
Dubai’s re-exports grew nine percent in 2017 to AED360 billion, while Dubai’s imports reached AED798 billion and exports totalled AED144 billion. Dubai’s foreign free zone trade grew five percent to AED434 billion, while direct trade touched AED829 billion and customs warehouse trade reached AED39 billion.
HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, praised the growth of Dubai’s non-oil trade in 2017. “Dubai’s competitiveness,” he said, “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.”
Sheikh Hamdan added enhanced competitiveness supports the effort to ensure the national economy achieves the top ranking in various global competitiveness indices in line with guidelines of President HH Sheikh Khalifa bin Zayed Al Nahyan, and the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
“Trade is one of the key sectors that drives Dubai’s growth as a major global trading hub, which is supported by the emirate’s long heritage of being a gateway for global trade. The current growth of its non-oil foreign trade is an indication that we are on the right path of revenue diversification,” Sheikh Hamdan said.