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Dubai export markets by value are highly concentrated in India and Switzerland, comprising 40 per cent and 20 per cent, respectively, a government agency has said.
According to Dubai Exports, an agency of the Department of Economic Development (DED), this has been due to the export of gold to these countries, whereas other direct exports go mainly to Gulf Cooperation Council (GCC) and the neighbouring countries in small shares.
“While India still took the biggest portion of 36 per cent of direct re-exports, there was a clear pattern of re-exports with relative focus in Iran and Iraq with 17 per cent and 5 per cent shares respectively, including a number of other markets in small shares,” DED said in a statement.
According to the statement, Dubai's trade with its partners continued to grow, while some new export markets emerged as potentially important for Dubai, including Brazil, South Africa, Kazakhstan and Australia.
Also, based on trade flows, the report highlighted some trade opportunities with Free Trade countries that can benefit from free duties.
It said that in 2010, Dubai has been exporting diverse products, such as gold and precious metals, sugar, plastics and food, in various target export markets particularly in South and West Asia.
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