Non-oil products such as office supplies and food are driving growth.
Direct export numbers in Dubai rose by 35 percent during the opening three quarters of 2010 according to indications in the industry.
Over that same time period re-exports rose 25 percent and imports saw a 17 percent increase.
With these increases the UAE is moving towards a top global position in exports, as stated by the CEO of EDC (Dubai Exports) Saeed Al Awadi. The engineer spoke at the Second Exporters Forum.
Al Awadi stated that reaching this goal is a challenge due to the dumping policies of major industrial nations around the world. These are difficult to battle in the manufacturing world, yet Al Awadi noted that the UAE government is moving forward and determined to beat these issues.
Total trade for 2010 held a value of Dh 379.8 billion, which is Dh 20 billion more than the same time period in 2009. Forecasts see this rising trend maintaining momentum of 20 percent annually, according to the CEO.
A positive trend for Dubai exports will be evident in 2011, due to the fact that the core product is holding onto a strong position and expected to see an even higher demand.
Dubai Trade’s director Mahmoud Bastaki spoke to Gulf News and stated that after a higher than 20 percent increase from 2009 to 2010, all is positive for 2011 when even more value should occur with new products and markets rolling out.
The UAE’s focus on exporting non-oil products is concentrated by these growth figures. The FCA (Federal Customs Authority) in the UAE reported that non-oil trade rose by 9 percent in the opening eight months of this year, when compared with the same time period in 2009.
Non-oil trade with foreign customers grew by Dh 41.2 billion. The total value figure hit Dh 477.6 billion in the opening eight months of 2010, up from Dh 436.4 billion during that time period in 2009.
Bastaki told Gulf News that office supplies and food should experience a surge in export amounts.
India holds the top spot in trade confidence, while the UAE is pushing hard in second place, according to the Dubai Trade director. Bastaki noted that trust within the industry is on the rise for the UAE.
Established trading relationships in the US, Switzerland, India, Sweden and in the Gulf region will accompany market expansions into Africa over the coming few years.Paul Holdsworth, Staff Writer, Gulf Jobs Market News