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DUBAI / WAM
HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, on Tuesday announced that Dubai recorded a non-oil foreign trade of AED 1.283 trillion in 2015 with AED 796 billion of imports, AED 132 billion of exports, and AED 355 billion of
re-exports.
Sheikh Hamdan asserted that economic diversification strategies of Dubai and the UAE are achieving their objectives, which reflect the country’s economic resilience and its ability to adapt to fluctuations in international markets.
Sheikh Hamdan said that the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, to diversify national income and improve the performance of various economic sectors, especially trade, represents the basis for the UAE’s economic development plans.
The Dubai Crown Prince said that Dubai’s trade sector continues to demonstrate strong performance and significantly contributes to the country’s economic growth. He explained that after the leadership announced its post-oil plans, trade will play a crucial role in the national economy supported by the country’s highly efficient infrastructure. Dubai further entrenched its strong standing in the global trading landscape and succeeded in boosting its international and regional position as a springboard for the trading of ICT products.
This supports its progress in transforming itself into the world’s smartest city and a knowledge based economy as well as the UAE’s transition into a post-oil economy.
Despite the fluctuations in international trade in 2015, the slump in global markets and the decline in basic commodity prices, Dubai has diversified its foreign trade. The growth in trading of mobiles and computers was a significant part of this.
Telephones represented the most traded commodity with a total value of AED 185 billion. This included all kinds of smart, mobile and land phones.