Dubai records AED52.4 Billion of direct exports in 2009
The Dubai Export Monitor 2010 published by Dubai Export Development Corporation (EDC), an agency of the Dubai Department of Economic Development, Government of Dubai, revealed that the direct exports from the Emirate in 2009 registered AED52.4 Billion, up by 22.9% from 2008 while imports and re-exports reduced by 27.9% and 8.6% respectively.
The value of exports of nearly 50% of EDC’s target products such as Sugar, Cocoa, Precious Stones and Aluminium also increased. In addition, Dubai exports to 12 out of 27 countries increased while both Dubai exports and re-exports increased to Brazil, France, Saudi Arabia and Qatar, have increased from 2008 to 2009.
“Among EDC’s responsibilities is to create opportunities for Dubai companies to expand and promote their products in the fastest growing regions. Our role as an established government institution is to ensure the development of as many opportunities for exports not only regionally but internationally,” said Engineer Saed Al Awadi, Chief Executive Office, EDC.
“Dubai is the ideal location providing world class trading platform for a wide array of commodities. Its geographical position is a strategic strength as are the sophisticated infrastructure and the government realises the importance of diversifying sources of income and increasing the participation of the industrial and the export sectors in increasing the country's GDP,” he added.
Over the period 2000-2009, top countries by value of exports from Dubai were India, Switzerland, Saudi Arabia and Pakistan and by growth of exports were Switzerland, Brazil, Egypt and Saudi Arabia. Meanwhile, from Free Zone during the same period, Brazil, China, Switzerland and Argentina were among the leading countries by growth of value of exports whereas in terms of export value from Free Zone, top countries were Saudi Arabia, India, Kuwait and Qatar.
Egypt and Kazakhstan were among the countries to which relatively larger numbers of products were exported from Dubai, while relatively larger number of exports from Free Zones went to Egypt, Kuwait, Pakistan and Russia. i.e. the export portfolio to these countries was relatively more diversified.
Qatar, China, India, Indonesia, Egypt and Brazil may present promising markets for Dubai exports since they are the top countries among focus countries which are forecasted to grow in real GDP according to data from the Economist Intelligence Unit (EIU). While Qatar, Russia, Kazakhstan, India, and Brazil are promising markets since they had highest import growth rates among the focus countries for 2004-2008 according to ITC Trade Map.
Meanwhile, according to World Bank’s ‘Doing Business Report’, UAE rank in Trade Across Borders has significantly improved to 5th in 2010 from last year’s 13th out of 183 economies, while the UAE was also ranked 35th in Foreign Market Index for 2009-2010 as per the Global Competitiveness Report out of 133 economies.