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India top trade destination for Dubai

May 27, 2008 14:56 IST
India has emerged as Dubai's top trade partner, with the country heading the list of import and export destinations from the latter in the first quarter of 2008.

India had a share of 13.14 per cent of the total imports from the emirate worth AED 12.6 billion (1 AED = $.272) while 45.7 per cent of the total exports worth AED 4.7 billion during the period.

It also emerged as the top re-exports destination with 31.8 per cent (AED 11.9 billion) out of the total re-exports in the first four months of the year.

In list of top imports destination, China came second with a total figure of AED 10.7 billion, followed by Switzerland at AED 7.2 billion.

India, China and Switzerland together accounted for 31.8 per cent of Dubai's total imports.

Dubai's non-oil foreign trade jumped 46 per cent in the first quarter of 2008, reaching AED 214 billion, against AED 146.5 billion registered during the same period in 2007.

During the period under review, Dubai's exports recorded a phenomenal growth, soaring by 79 per cent, while re-exports went up by 73.5 per cent and imports grew by 49.7 per cent, said figures from Dubai World's Statistics Department.

"The figures underscore the buoyant commercial growth of the emirate, reinforcing Dubai's reputation as a major commercial hub, Sultan Ahmed Bin Sulayem, Chairman, Dubai World, said.

"The growth is fuelled by the government's relentless efforts to upgrade the existing modern infrastructure of ports, airports and land transportation network, connecting Dubai to the world," he added.
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