India emerges as Dubai’s second greatest commerce accomplice

India emerges as Dubai’s second greatest commerce accomplice


India has emerged as Dubai’s second greatest buying and selling accomplice after China with the general quantity touching 38.5 billion dirham within the first half of 2021, in response to official knowledge launched on Sunday.

According to a Dubai authorities assertion, the emirate had a commerce quantity of 86.7 billion dirham with China in H1 (first half) of 2021, adopted by India and the US at third place.

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

China recorded 30.7 per cent progress year-on-year with complete commerce with Dubai standing at 66.3 billion dirham in H1 2020.

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

Saudi Arabia got here fourth with 30.5 billion dirham up 26 per cent from H1 2020, adopted by Switzerland at 24.8 billion dirham.

The complete share of the 5 greatest commerce companions in H1 2021 amounted to 241.21 billion dirham in comparison with 185.06 billion dirham in H1 2020, up 30.34 per cent.

Gold topped the record of commodities in Dubai’s H1 exterior commerce at 138.8 billion dirham (19.2 per cent of Dubai commerce), adopted by telecoms at 94 billion dirham (13 per cent).

Diamonds got here third within the record at 57.3 billion dirham (8 per cent), adopted by jewelry at 34.1 billion dirham (4.7 per cent), and automobile commerce at 28 billion dirham (4 per cent).

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Dubai’s non-oil exterior commerce surged 31 per cent within the first half of 2021 to achieve 722.3 billion dirham from 550.6 billion dirham within the corresponding interval in 2020.

Exports grew 45 per cent yr on yr in H1 2021 to 109.8 billion dirham from 75.8 billion dirham, which helps the objective of the ten x 10 program (one of many nation’s ‘Projects of the 50’ initiatives) to extend the UAE’s exports to 10 international markets by 10 per cent yearly.

Imports rose by 29.3 per cent year-on-year to 414 billion dirham from 320 billion dirham. Re-exports grew 28.3 per cent 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, stated Dubai has bolstered its standing as one of many world’s quickest rising enterprise hubs.

“Dubai’s present sea and air community shall be expanded to cowl 200 new cities around the globe. We are assured that we’ll proceed to construct on our progress momentum to attain our formidable sustainable growth initiatives and plans,” he stated. 

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