​China maintains Dubai's biggest trading partner in first 9 months

2018-11-08 14:52

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China maintained its position as the biggest trading partner with Dubai, the United Arab Emirates (UAE), in the first nine months of 2018, Dubai Customs reported Tuesday.

China's trade with Dubai in the first nine months amounted to AED 102.9 billion (about 27.8 billion U.S. dollars), reported the official news agency WAM, quoting the UAE city's external trade figures released by Dubai Customs.

China was followed by India which registered 16 percent growth of its trade with Dubai to reach AED 86.2 billion, and the United States came in the third with AED 59.6 billion.

Saudi Arabia remained Dubai's largest Arab trade partner and its fourth largest global trade partner with AED 38.6 billion in trade.

Signifying Dubai's rising role in global trade, Dubai's non-oil foreign trade in the first nine months reached AED 965.3 billion, according to the report.

Dubai's re-exports registered 13 percent growth to reach AED 299.2 billion, while imports rose to AED 592.2 billion and exports hit AED 97.7 billion.

Phones of all types topped the list of commodities in Dubai's foreign trade in the first nine months, with AED 111 billion worth of trade. It was followed by gold, with AED 110 billion, jewellery, with AED 78 billion, diamonds, with AED 69 billion, and cars, with AED 49 billion.

Dubai Customs attributed the high performance of foreign trade sector to Dubai's advanced infrastructure and forward-thinking policies.

Technology, such as artificial intelligence applications, also plays a major role in supporting foreign trade in Dubai, whose government is working to provide the best service and facilities to their clients as part of an integrated plan to turn it into a world-class model for economic growth.

Ahmed Mahboob Musabih, director of Dubai Customs, said Dubai has "an integrated strategy in place to develop external trade performance."

"We are closely watching the changes taking place in international trade and we will turn challenges into opportunities by entering new markets and expanding our existing ones," he said.
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