According to the official data, India is now become the second biggest trading partner of Dubai. The emirate had a trade volume of 86.7 billion dirham with China in H1 (first half) of 2021, followed by India and the U.S. at third position.
China has a growth of 30.6% in total trade with Dubai in H1 2020 whereas Trade with India grew 74.5% year-on-year to 67.1 billion dirham from 38.5 billion dirham in H1 2020. As for the U.S.A. traded 32 billion dirham with Dubai, up 1% year-on-year from 31.7 billion dirham in H1 2020. The fourth position is achieved by Saudi Arabia with 30.5 billion dirham up 26% from H1 2020, followed by Switzerland at 24.8 billion dirham.
The total share of the five biggest trade partners in H1 2021 amounted to 241.21 billion dirham compared to 185.06 billion dirham in H1 2020, up 30.34%.
Gold topped the list of commodities in Dubai's H1 external trade at 138.8 billion dirham (19.2% of Dubai trade), followed by telecoms at 94 billion dirham (13%). While Diamonds came third in the list at 57.3 billion dirham (8%), followed by jewellery at 34.1 billion dirham (4.7%), and vehicle trade at 28 billion dirham (4%).
According to the official data, non-oil external trade of Dubai increased by 31% in the first half of 2021 to reach 722.3 billion dirham. It was 550.6 billion dirham in the corresponding period in 2020.
While supporting the goal of 10×10 program-- one of the nation’s ‘Projects of the 50’ Initiatives, Dubai’s exports grew 45% year on year in H1 2021 to 109.8 billion dirham from 75.8 billion dirham. It helped to increase the U.A.E.'s exports to 10 global markets by 10% annually.
Whereas the Imports to Dubai rose by 29.3% year-on-year to 414 billion dirham from 320 billion dirham. Re-exports grew 28.3% year-on-year to 198.6 billion dirham from 154.79 billion dirham.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, said, “Dubai’s existing sea and air network will be expanded to cover 200 new cities around the world. We are confident that we will continue to build on our growth momentum to achieve our ambitious sustainable development projects and plans.”
Image Courtesy: Mint