India is top export market for Dubai for second year

February, 04th 2011

India has topped the list of export markets for Dubai for the second consecutive year with a share of 40.6 per cent at 21.3 billion dirhams (Rs 268.348 billion).

Switzerland comes next as Dubai's second largest export market with a share of 16.6 per cent at 8.7 billion dirhams (Rs 109.6 billion). Saudi Arabia is third, followed by Pakistan and Iran.

Among the most significant goods and products Dubai exports to the aforementioned countries is gold, which again finds the largest market in India.

Dubai's exports of scraps and metals to India value 693.371 million dirhams (Rs 8.32 billion). The Emirate's non-oil direct exports grew at an average rate of 23 per cent in 2009 compared with 2008. The value of exported goods through all Dubai Customs entries amounted to 52.4 billion dirhams (Rs 629 billion) in 2009 against 42.6 billion dirhams in 2008 (Rs 511.2 billion), while growth rate over the past five years reached 47 per cent.

Ports, Customs and Free Zone Corporation Executive Chairman and Dubai Customs Director General Ahmed Butti Ahmed said the UAE adopted a strategy with respect to diversifying production base and economic activities, besides reinforcing trade and economic relations with other countries, which played a major role in attracting investment.

Source: mid-day.com