|By TAP Staff| India topped Dubai’s major trade partners with a total trade volume of AED 137 billion in 2013, representing a 10% share of Dubai’s total trade, figures released by Dubai Customs showed. China came second with a value of AED 135 billion, followed by the USA with AED 86 billion, that is a 6% share.
Saudi Arabia rose to the fourth position with a total share of 4% amounting to AED 56 billion, followed by the UK with a total share of approximately 4% accounting for AED 54 billion.
In terms of imports into Dubai, China led the list of trading partners followed by the USA and then India. As for re-exports, Saudi Arabia comes first, followed by India then Iraq. India, Turkey and Switzerland are respectively the leading partners of Dubai in terms of exports, the figures showed.
With a new peak for non-oil foreign trade in 2013, Dubai’s rising growth in foreign trade culminates with a volume of AED 1.329 trillion, achieving an AED 94 billion increase from the 2012 value, which totalled AED 1.235 trillion.
Foreign trade has successfully managed to keep up with Dubai’s new economic surge; based on a wider diversity of growth, where various economic sectors contribute with convergent rates. In response to this massive leap in economic performance, foreign trade hit a growth rate that exceeded twice WTO’s forecasted 2.5% global trade growth.
This soaring economic performance solidifies Dubai’s position at the forefront of the global economic scene. Being awarded the right to host Expo 2020 is a clear testament by the international community to Dubai’s economic ability, and with the arrangements for such an event the emirate enters a new stage peak performance and achievement. This would ultimately make Dubai a regional leader and an international competitor according to all global indicators, Dubai Customs said.