Dubai Investments, a leading investment company listed on the Dubai Financial Market, has announced that the volume of exports from its various subsidiaries has grown substantially over the last five years, reflecting the potential of manufacturing exports from its companies across multiple sectors.
An analysis of the export performance of DI subsidiaries between 2008 and 2012 revealed that glass export achieved the highest growth, followed by other products such as aluminium, pharmaceuticals, steel and rubber, among others. The company’s glass exports, which was worth AED 88.34 million in 2008, jumped to over AED 200 million in 2012, an increase of more than 129%.
The key export markets for DI were the GCC countries, Yemen, Jordan, Lebanon, Turkey, South Asia, Africa, UK, Europe, Australia, Singapore, Malaysia, Brazil, other parts of South America, CIS countries and across the globe.
Khalid Bin Kalban, Managing Director and CEO of DI, said: “We have seen a tremendous growth in exports from DI subsidiaries, particularly in manufacturing exports. Expanding DI’s global footprint has been one of our top priorities and the year-on-year growth is in line with our strategy to make exports as one of the frontrunners of success.”
He added: “We will continue to achieve consistent growth in our exports across our diversified products and services – primarily by opening up business channels in newer markets as well as building our presence in the existing ones.”
Export of extruded aluminium grew from AED 58.92 million in 2010 to nearly AED 100 million in 2012, an increase of over 64% while switchgear exports also surged from AED 116,424 in 2010 to AED 235,068 in 2011, a growth of 203%, which further increased to AED 330,488 in 2012 [+40%].Similarly, rubber exports grew from AED 18.59 million in 2010 to over AED 21 million in 2012, with focus markets being the Gulf countries, Europe as well as Africa.
Exports of steel enclosures for electrical products grew from AED 1.12 million in 2010 to AED 2.17 million in 2011 [+94%], which further increased to AED 3.61 million in 2012, a growth of 66%. DI’s subsidiaries also achieved substantial growth with the export of fabricated steel structures touching more than AED 93 million in 2012, an increase of over 81% over exports of nearly AED 51million achieved in 2010. The major export markets are Qatar, followed by Oman.
Similarly, pharmaceutical exports was worth in excess of AED 100 million in 2012, an increase of over 27% compared to AED 79.66 million exports achieved in 2010. The company’s export in the sector has been on a northwards trajectory over the last five years, having achieved a phenomenal 80% growth compared to exports in 2008.
As part of its strategy, DI is also working closely with Dubai Exports, the export promotion agency of the Department of Economic Development [DED], Government of Dubai, to reinforce its growth strategy in export markets. DI is also participating in a number of trade shows and exhibitions globally to realize market opportunities and export capabilities.