Total value of trade crosses AED 21 billion
The textile market in the Middle East has continued its strong growth in 2005, with total trade through Dubai touching an astonishing AED 21.5 billion, an increase of 15 per cent over the previous year, according to trade traffic statistics compiled by the Statistics Department of Dubai Ports, Customs and Free Zone Corporation (PCFC).
Total imports increased from AED 12.1 billion in 2004 to AED 13.4 in 2005, whereas re-exports increased from AED 5.8 billion to AED 7.1 billion over the same period. Total value of exports was pegged at AED 894 million, up from AED 624 million in 2004.
Woven fabrics of synthetic filament yarn comprised the bulk of the total trade with a 22 per cent share, followed by knitted clothing such as t-shirts, singlets and vests at 7 per cent. Women’s suits, ensembles and jackets also had a 7 per cent share. Men’s suits and ensembles accounted for 5 per cent, with miscellaneous other products forming the remaining 59 per cent.
“The textile market in the region has been flourishing for some years now, and a 15 per cent year-on-year growth is particularly impressive. Driving this growth is the significant population rise in most Arab countries, which has coincided with concerted efforts by governments and the private sector to promote the regional textile industry,” said Adel Al Ashram, Senior Manager, Department of Statistics, PCFC.
“One notable aspect emerging from these remarkable trade figures is Dubai’s growing prominence as a re-export hub. Much of the credit for this must be attributed to the steady investments Dubai has been making to improve port facilities and to boost container handling capacity,” Al Ashram added.
China ranked first on the list of top textile exporters to Dubai, with total exports of AED 4.8 billion. India was second with exports worth AED 1.1 billion, followed by South Korea, Indonesia and Thailand at AED 1 billion, AED 588 million and AED 461 million respectively.
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