Dubai’s non-oil foreign trade grows 10pc in Q1

13 June, 2021 12:00 AM printer

DUBAI: Dubai’s non-oil external trade surged 10 per cent in the first quarter of this year as the emirate’s economy continued to recover on the back of its rapid vaccination programme and the government’s stimulus measures.

The total foreign trade during the period reached Dh354.4 billion ($96.5bn), compared to Dh323bn recorded in the first quarter of 2020, Dubai Media office said in a statement on Saturday. It grew by 5 per cent when compared to the first three months of 2019, report agencies. Exports grew 25 per cent to Dh50.5bn while imports rose 9 per cent to Dh204.8bn.

The value of re-exports climbed 5.5 per cent to Dh99bn. “This remarkable growth will get us closer to the ambitious target of Dubai’s five-year strategy to raise the value of external trade to Dh2 trillion and consolidate its position as a bridge connecting regional and international markets by constantly enhancing its infrastructure and logistics services,” Sheikh Hamdan bin Mohammed, Dubai Crown Prince and chairman of emirate’s Executive Council, said.