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Dubai’s non-oil foreign trade crosses Dhs1 trillion in 2013: Customs

Dubai’s non-oil foreign trade crosses Dhs1 trillion in 2013: Customs

DUBAI: Dubai’s non-oil foreign trade exceeded Dhs1 trillion during the first nine months of this year, a rise from Dhs918 billion for the same period in 2012.

According to Dubai Customs, Dubai’s third quarter imports touched Dhs610 billion compared to Dhs546 billion in 2012, and have been instrumental in boosting the emirate’s non-oil foreign trade growth in 2013.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, crown prince of Dubai and chairman of the Dubai Executive Council said that such strong growth in trade during the first three quarters would boost UAE’s status as a global hub for trade and reinforce Dubai’s position as an official gateway for international traders.

“Trade is one of the key pillars in the overall structure of our local economy and a main driver for its growth,” he said. “We look at the rising curve in trade volumes as an indicator of the success of our developmental strategies.”

Sheikh Hamdan added that with Dubai poised to host Expo 2020, trade in the emirate is expected to grow tremendously in the coming years and will offer “unprecedented opportunities”.