Ahmed Butti Ahmed: Increase in exports to AED 68 billion provides for promising investment opportunities
Dubai non-oil direct trading exchanges in the world market increased by 18% in the last year, recording AED 576 billion against AED 488 billion in 2009 to almost achieve the recorded figures of 2008 in which Dubai trading exchange volume have achieved highest record approximated at AED 613 billion.
His Excellency, Ahmed Butti Ahmed, Executive Chairman of Ports, Customs and Free Zone Corporation and the Director General of Dubai Customs asserted that the recorded figures during last year indicate a tangible improvement in the domain of non-oil trading activities in the Emirate of Dubai, and forecast a future upcoming development in the domain of investment opportunities along with recovery of escalating pace of economy’s activities growth prospects in which trade is essentially considered a key component.
His Excellency learned that the facts declared by Dubai Customs showed record achievements in terms of exports and re-exports. Evidently, this ascertains vitality of Dubai strategic position as across point for regional and international activities.
During the last year, Dubai direct exports with the external world surged to record AED 68 billion, an increase by 30% compared to 2009 which reached AED 52 billion. This export indicator shows the high quality of the local products of UAE and their competitiveness in the external markets, and the increasing demand for them amongst traders and consumers in these markets. This besides, the customs facilitation processes served to the exporters have also attracted increasing numbers in this hub.
Dubai export figures achieved during the last year were higher comparable to the last 5 years. Exports in 2006 reached more than AED 18 billion, and increased to reach AED 27 billion in 2007, and AED 43 billion in 2008, He added.
The values of the executed exports activities in the last year have remarkably recovered its growth after they witnessed a decrease in 2009. They went over AED 144 billion compared to AED 117 billion in the corresponding year, he explained.
DC Director General explained that the recovery of re-exportation activities might be attributed to the improved infrastructures of air, sea ports, developed and secured network of transportation, the strategic location of the Emirate and availability of customs advanced systems. These factors have all together contributed in the economy recovery. The bustling air traffic and Dubai’s attraction to most famous shipping lines have tremendously facilitated growth of re-exportation operations. We continue our best to make their operation smoother within a framework of compliance, facilitation and endeavor not to allow transportation of restricted and prohibited goods which are hazardous and risky to the economy and communities of the word, he added.
His Excellency explained: “The re-exports operations achieved last year have been the highest for the last 5 years. Maximally, the values recorded in 2008 more than AED 129 billion prior to the retreat in 2009 at 9% due to the international crunch and its reverberation to the international economies.
Dubai revenues of non-oil trade exchanges in the external markets record the biggest dividend. These values during the last year reached AED 364 billion with an increase of 14% of revenues in 2009, valued at AED 318 billion.
the DG attributed the revenues growth to a number of factors related to the local demand purchasing force, improvement of incomes, high liquidity and openness of the local markets to all external varied markets with ensuring achievement of equal opportunities.
India maintained its position as the greatest trade partner with Dubai during the last year. The trade exchanges between the two partners hit AED 146 billion, or 25% of the total trades and monopolized 18% of Dubai total revenues, 40% of the total exports and 36% of the total re-export operations.
China secured the second rank amongst the greatest counties in respect of Dubai imports. Chinese merchandise constituted 12% of Dubai total imports, while USA came third by 8% of these total imports.
Switzerland comes second in the list of Dubai direct exports worldwide with 20% of Dubai total exports, while Saudi Arabia took the third position with a share of 4% of Dubai total exports.
As of re-exports, Iran ranked second within the list of top re-exporting countries by 17%, followed by Iraq with 5%.
Precious metals exports are the top dividend of Dubai external trades with values of AED 236 billion, or 41% of total trade thus topping the list of imported, exported and re-exported goods.
Machines and tools are second to precious metals in the list; its values recorded AED 34 billion, or 9% of Dubai total imports. Instruments and electricity apparatus are second with AED 31 billion, or 8.6% of Dubai total imports.
Plastic, rubber and rubber products were the second highest exported items in the list with AED 4 billion, or 5% of total exports, while sugar and its products come next in the rank at AED 2 billion, or 3.6% of Dubai total exports.
As of re-exports, auto and spare-parts take the second place with a value of AED 14 billion or 10% of total re-exports. Heavy machines and equipment come third with AED 13 billion of total re-exports, or 9% of total activities.