DUBAI: India emerges as Dubai’s second biggest trade partner

DUBAI: India has emerged as Dubai’s
second biggest trading partner after China with the overall volume touching
38.5 billion dirham in the first half of 2021, according to official data released
on Sunday.
According to a Dubai government statement, the emirate had a trade volume of
86.7 billion dirham with China in H1 (first half) of 2021, followed by India
and the US at third position.

Trade with India grew 74.5%
year-on-year to 67.1 billion dirham from 38.5 billion dirham in H1 2020.

China recorded 30.7% growth
year-on-year with total trade with Dubai standing at 66.3 billion dirham in H1
2020.

In H1 2021, the USA traded 32 billion dirham with Dubai, up 1% year-on-year
from 31.7 billion dirham.

Saudi Arabia came fourth with 30.5 billion dirham up 26% from H1 202pti0,
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
per cent.

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 per cent).

Diamonds came third in the list at 57.3 billion dirham (8 per cent), followed
by jewellery at 34.1 billion dirham (4.7 per cent), and vehicle trade at 28
billion dirham (4 per cent).

Dubai’s non-oil external trade surged 31%in the first half of 2021 to reach
722.3 billion dirham from 550.6 billion dirham in the corresponding period in
2020.

Exports grew 45%year on year in
H1 2021 to 109.8 billion dirham from 75.8 billion dirham, which supports the
goal of the 10 x 10 program (one of the nation’s ‘Projects of the 50’
initiatives) to increase the UAE’s exports to 10 global markets by 10%annually.

Imports 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 has reinforced its status as one of the world’s fastest growing
business hubs.

“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,” he said.