São Paulo – The bilateral trade turnover in Dubai, United Arab Emirates, reached 602 billion dirham in the first half (US$ 163.9 billion at current exchange rates), up 12% from the first half of 2011. The figure was an all-time high for the period, and exceeded the 600 billion dirham-mark (US$ 163.3 billion) for the first time, according to an article published this Tuesday (28th) by the Dubai newspaper Khaleej Times.
According to Dubai Customs figures quoted by the newspaper, imports reached 357 billion dirham (US$ 97.2 billion), up 11.5% from the first half of 2011. Exports and re-exports amounted to 245 billion dirham (US$ 66.7 billion), up 13%. The figures do not include crude oil.
"This sector suffered major losses in 2009, dropping from 458 billion dirham (US$ 124.7 billion) in 2008 to 361 billion dirham (US$ 98.3 billion) in first half of 2009 amid the global economic crisis. The sector managed to get back on track during first halves of 2010 to 2012,” said the Dubai Customs director general, Ahmed Butti, according to Khaleej Times.
In terms of imports, the main export product in the first half was gold, followed by jewellery, diamonds, telecom equipment and automobiles.
Gold was also the main export item from Dubai during the period, followed by diamonds, jewellery and other precious metals, aluminium and refined oil.
As regards re-exports, the main items sold were telecom equipment, diamonds, jewellery and precious metals, oil derivatives, and computing products.
According to the newspaper, India retained its position as Dubai’s premier trade partner, followed by China, United States, Switzerland and Saudi Arabia. These countries accounted for 37% of trade with the emirate in the first half.
*Translated by Gabriel Pomerancblum
