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DUBAI: Dubai’s non-oil foreign trade reached 354.4 billion dirhams ($ 96.5 billion) in the first three months of 2021, an increase of 10% over the same period last year .
Exports rose 25 percent to 50.5 billion dirhams while imports rose 9 percent to 204.8 billion dirhams, the official WAM news agency reported.
Re-exports reached 99 billion dirhams over the same period, up 5.5%.
“This remarkable performance reflects the impressive resilience of our foreign trade sector and its ability to rebound and grow in the face of major international crises,” said Emirate leader Sheikh Mohammed bin Rashid Al-Maktoum.
He attributed the growth to the emirate’s advanced infrastructure, good governance, as well as “generous stimulus packages” launched to support businesses during the pandemic.
Dubai earlier launched a five-year economic strategy to boost foreign trade to 2,000 billion dirhams and take advantage of its potential as a global trade hub given its location.
“In addition, by hosting Expo 2020, ‘the world’s largest trade fair’, Dubai will make a significant contribution to the recovery of the global economy and help it return to prosperity,” Sheikh Mohammed added.
This has helped ensure that global business activities in Dubai are not severely affected by the health crisis, said Sultan bin Sulayem, group chairman of port operator DP World.
“The impressive success of the vaccination campaign in the United Arab Emirates has created high levels of global trust in the country and has helped Dubai strengthen its profile as a city with the most favorable business environment in the world,” a- he declared.
Sulayem highlighted Dubai’s ongoing campaign to create a global logistics network through a passport system that facilitates international trade.
Countries like Indonesia, Thailand, South Africa and Brazil have joined the network, and several international shipping giants have signed up to benefit.
Air trade increased 15 percent to 179 billion dirhams, while maritime trade accounted for 120 billion dirhams, registering an increase of 3 percent. Land trade increased 7 percent to 55.3 billion dirhams.
China remains Dubai’s largest trading partner in the first three months of the year, with 44 billion dirhams in trade, an increase of 30%.
It is followed by India at 35 billion dirhams, the United States at 15.4 billion dirhams and Saudi Arabia at 14.7 billion dirhams.
Gold tops the list of the emirate’s foreign trade commodities with 63 billion dirhams, followed by telecommunications, diamonds, jewelry and vehicle trade.