DUBAI – Dubai's non-oil foreign trade has climbed to a record AED602 billion during the first half of 2012, reflecting a 12 percent increase compared to AED537 billion achieved over the same period in 2011, latest statistics from Dubai Customs showed. Dubai's imports have shown a growth of 11.5 percent in H1 2012, fetching AED357 billion compared to AED320 billion in H1 2011; while the value of exports and re-exports hit AEDs245 billion with a growth rate of 13 percent as compared to AED217 billion over same period last year. Ahmed Butti Ahmed, Executive Chairman of Ports, Custom and Free Zone Corporation, and Dubai Customs Director General, said these figures include non-oil direct trade, free zone trade and customs warehouses. He commended Dubai's foreign trade sector for breaking the barrier of AED600 billion for first time in its history. Unwrought, worked and semi-manufactured gold topped the list of Dubai's imports reaching AED59 billion during the first half of 2012, followed by jewelry at AED25 billion, diamonds at AED24 billion, telecom equipment at AED23 billion and automobiles at AED15 billion. Gold was also ranked as the top exported product from Dubai during H1 2012, at a value of AED42 billion, followed by diamonds at AED8 billion, jewelry and precious metals at AED3bn, aluminum at AED2 billion and non-crude oil at AED2 billion. In terms of re-exported products from Dubai, telecom equipment came in first at AED29 billion, followed by diamonds at AED15 billion, jewelry and precious metals at AED11 billion, oil products at AED10 billion, and IT machinery at AED9 billion. According to the figures released by Dubai Customs' Department of Strategy and Corporate Excellence, India has managed to maintain its position as Dubai's top foreign trading partner with a total trading value of AED77 billion (13 percent of Dubai's overall foreign trade exchange); while China came in second with AED53 billion (9 percent), followed by the US at AED36 billion (6 percent), Switzerland at AED32 billion (5 percent) and Saudi Arabia at AED23 billion (4 percent). Dubai's trade exchange value with these top five countries hit AED221 billion in total, accounting for 37 percent of Dubai's overall foreign trade during the first half of 2012. – SG/Agencies
