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Export Market in Dubai showing Promising Growth

Dubai, United Arab Emirates : 13 April 2010

The Dubai Export Development Corporation (EDC) yesterday released a report which showed that the value of exports was Dh52.4 billion for last year while imports also decreased by just below 28% for the same period. In 2009 international trade as a whole was very uncertain and was significantly lower than previous years however these effects were less noticeable on the Middle Eastern Markets and in some instances there was even growth witnessed in some sectors.

Another analyst stated that while foreign export is undoubtedly going to be affected by the performance of all the international markets the Middle East market does appear to have been somewhat more steadfast than many others. In 2009 the World trade figures released by the World Trade Organization showed that exports decreased by 12% during the year but in the last couple of months of 2009 a recovery was beginning to become somewhat evident.

Overall world exports increased by just less than 4% and it was cited that in the Middle East and Africa the increase in exports was actually as high as 20%. In Europe the figure closed up slightly at a 4% increase and North America actually declined by 2% Overall the Middle East, Africa and Europe’s export volumes fell by approximately 11% in 2009. In the Asia Pacific and Indian sub-continent export volumes fell by 8% and in America and Australia the figure was 14%. However it is now predicted that as Markets begin to improve the Middle East will actually gain a larger portion of world trade than was previously the case. Many products supplied by the EDC such as sugar, cocoa, aluminium and precious stones are increasing in demand.

Andrew Reid, Staff Writer, Gulf Jobs Market News
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