India has emerged as Dubai’s top trading partner, achieving total trade of over $10 billion, during the quarter ending March 2012.
India also emerged as Dubai’s top exporting and re-exporting country at $5.7 billion and came second in terms of imports at $5.17 billion, following China at $6.94 billion. The US came in third place at $4.35 billion, according to the latest statistics released by Dubai Customs.
Unwrought, worked and semi-manufactured gold topped the list of Dubai’s imports with $6.9 billion from January to March 2012, followed by diamonds at $3.78 billion and jewellery and precious metals at $3.1 billion.
Imports of telecom equipments have reached $3.10 billion, while cars touched $2.06 billion.
Gold was the number one product to be exported from Dubai during the said period at $5.06 billion, followed by jewellery and precious metals and non-crude oil.
The continued growth in Dubai’s foreign trade reflects the strength and resilience of the UAE economy, said the Executive Chairman of Ports, Custom and Free Zone Corporation, Dubai Customs Director General, Mr Ahmed Butti Ahmed.
Mr Ahmed mentioned that the statistics include the non-oil direct trade, free zone trade and customs warehouses.
“The continued growth of Dubai’s foreign trade has mainly resulted in the development of modern customs system that ensures offering a wide range of high quality services to the private sector and shipping and logistics companies,” he said.