Dubai Customs stats report that the nation’s non-oil trade around the globe has grown 16% for the period from January to May 2010.
Dubai enjoyed Dh197 billion in global trade (non-oil sectors) over the same time last year. The number jumped to Dh228.2bn for the current year.
Exports rose nearly 12 percent, according to the data released by Dubai Customs Statistics, with the total value jumping Dh15 billion from 130.6 to Dh145.6bn over the period.
Direct exports had a major leap ahead, reporting a 43 per cent boost in volume. That increased the Dh18.7 billion operations from the previous year to a five year record high of Dh26.7bn in 2010.
This boom in the exports of Dubai is indicative of their capacity to get beyond the economic shadow that has covered the globe. Dubai has shown that they can adapt to the standards of foreign markets and is seen repeatedly jumping into them with a competitive edge and self-confidence.
There was a weight increase in the emirate’s direct exports of 25 per cent over last year’s weight.
Based on the stats reported by Dubai Customs there was also a growth in the value of re-exports of over 17 per cent. That value was Dh47.6 billion for the initial five month period of 2010.
There was a reported weight increase of approximately 12 per cent over last year for the goods re-exported. This indicates that Dubai’s re-exports are growing both in quantity and value.Paul Holdsworth, Staff Writer, Gulf Jobs Market News