The total value of exports out of Dubai realised through Dubai Exports, the export promotion agency of the Department of Economic Development, crossed Dhs3 billion in 2011, as exporters in Dubai continued to penetrate new markets and diversify their product range.
The export sector performance in 2011 marks a significant achievement for Dubai Exports and its strategy of enhancing the export capabilities of local companies.
Of the 42 export transactions facilitated by Dubai Exports during the year, 35 per cent were new deals while 50 per cent of the deals were won by new exporters. Also, companies based in Dubai were the beneficiaries of 93 per cent of the deals concluded last year.
The largest share of exports - 61 per cent - transacted through Dubai Exports went to the Gulf Co-operation Council (GCC) countries while Africa accounted for 35 per cent, an increase from their share in 2010. The remaining four per cent was distributed among countries in Asia, Europe and rest of the world.
Food products, electronics and petrochemicals were the leading export from Dubai, together constituting 95 per cent of the net exports. The GCC market took in 82 per cent of the food products exported, indicating strong and continued prospects for this sector in the region. Europe (8 per cent) and Africa (5 per cent) were the next major export destinations with the remaining share going to Asia and other parts of the world.
“Dubai Exports was able to achieve positive growth in exports from the emirate in 2011, mainly through diversification of export products and opening business channels in new markets. In 2012 we will continue to focus on increasing the exports of small and medium enterprises (SMEs) in Dubai, enhancing competitiveness of local companies, and raising the level of their products to make them exportable to regional and global markets,” said Engineer Saed Al Awadi, Chief Executive Officer of Dubai Exports.
Al Awadi added that Dubai Exports will participate in international exhibitions across the Gulf, Africa, Europe, and Central Asia in 2012 to promote bilateral trade and exports between countries in these regions and the UAE, particularly Dubai. “Several Dubai companies managed to penetrate international markets through attending global forums. These forums undoubtedly are the most important marketing channels to build relations with existing and new clients, launch new products and raise the profile of companies.”
“Dubai Exports intends to strengthen its partnership with a number of local, regional and international bodies and organisations, in addition to a wide range of companies in the UAE, to promote SME products and expand their export capabilities in 2012,” stated Al Awadi.