Dubai’s global trade reaches $78 bn

August 21st, 2011 - 11:36 pm ICT by IANS  

Dubai, Aug 21 (IANS/WAM) Dubai’s global trade touched 289 billion dirhams (about $78 billion) in the first five months of this year, it was announced Sunday.

The figure rose by 27 percent compared to 228 billion dirhams in the corresponding period last year.

Statistics issued by Dubai Customs show growth in all sectors of direct trade between Dubai and the rest of the world, including exports, imports and re-exports.

Free zone trade was up by 25 percent to more than 160 billion dirhams compared to 128 billion dirhams in the corresponding period last year.

Ahmed Butti Ahmed, director general of Dubai Customs, said the growth witnessed in Dubai reinstates the strength of the UAE’s economy.

“This is attributed to the economic diversity Dubai enjoys as well as the remarkable status it takes being a key business hub.

“Dubai direct trade with the world during the first five months of this year scored record rates if we look back at the same periods of the past five years.

“This reflects that Dubai has already overcome the financial crisis which stormed the international markets and still do,” Ahmed said.

–IANS/WAM
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