DUBAI: Dubai’s non-oil foreign trade for the first half of 2016 stood at Dhs647 billion, with the volume of traded goods witnessing a 17 per cent rise.
Dubai Customs said that imports accounted for Dhs401 billion, while exports and re-exports were valued at Dhs74 billion and Dhs172 billion respectively. With a high of 49 million tonnes of commodities traded during the period, up from 41 million for the same period the year before, Dubai Customs said the figures show that Dubai is progressing well in its plan to reduce reliance on oil revenues and move towards an economy that depends on foreign trade as well as other income sources.
“To offset the impact of the general slowdown in world economy, lower commodity prices and the slump in oil prices, Dubai has wisely restructured and broadened its sources of revenue while taking considerable measures to stimulate growth in the affected sectors,” said DP World Group Chairman and CEO and Chairman of Ports, Customs and Free Zone Corporation, Sultan Ahmed bin Sulayem.
