Dubai's direct trade exchange with the world is galloping at a record speed.
The emirate posted a new record growth of 34 per cent in trade exchange during the first quarter of 2011, hitting Dh183 billion against Dh136 billion over the same period in 2010.
"The statistics released showed a significant rise of 16 per cent in the weight of the exchanged goods up to 11.92 million tonnes from January to March this year compared to 10.25 million tonnes in the same period last year," Ahmed Butti, Executive Chairman of Ports, Customs and Free Zone Corporation, said.
Dubai exports also jumped in the meantime. Export figures crossed Dh22 billion compared to Dh15 billion, an increase of a whopping 47 per cent. “Another growth in the weight of the goods and products issued by Dubai to the international markets exceeded 23 per cent. That is over two million tonnes as opposed to 1.7 million tonnes in the first quarter of 2010," Butti added.
Overall the volume of imports into Dubai was over eight billion tonnes during the first three months of this year against 6.8 billion tonnes for the same period of the current year. “This ensures the growth of the purchasing power, increase of local demand on the goods and products and recovery of trade activities in the local markets," the Chairman explained.