Dubai foreign trade in Q1 2015 grows 3% to Dh331bn

Dubai's foreign trade soared three per cent in Q1 2015, hitting Dh331 billion compared to Dh323 billion in the same period of 2014.

The growth is attributed to the emirate's heavy investment in its infrastructure, which has significantly enhanced its attractiveness to international businesses.

Imports had the lion share with Dh205 billion, while exports climbed to Dh32 billion and re-exports Dh94 billion.

China was Dubai's premier trade partner, with Dh47 billion worth of goods traded between them. India turned second with trade value totalling Dh24.7 billion. The USA followed with Dh19.5 billion and KSA came in fourth with a trade value of Dh17.1 billion.

Sultan Ahmed bin Sulayem, Chairman of DP World and Chairman of Ports, Customs and Free Zone Corporation, said: "Dubai has demonstrated the ability to withstand the impact of the global economic slowdown in major trading areas, as well as the decline in oil prices and currency swings. The emirate's foreign trade is leveraged by its world-class infrastructure and the trading and customs services put in place to cater to the needs of traders and investors.”

According to Bin Sulayem, international phone and IT hardware manufacturers and software developers who established their regional HQs and distribution centres in Dubai are perfectly placed to take advantage of the vast facilitations tailored especially to cater to their needs, in a bid to encourage more trade in phones and IT equipment through the emirate.

"Dubai boasts an extensive foreign trade network, primarily between markets in China and India and global markets in Europe, America and Africa, giving Asian investors a broad choice of potential global marketing outlets,” Bin Sulayem said.