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Germany was Dubai’s top trading partner among EU countries with bilateral trade touching on AED 33.4 billion. Belgium came in second at AED 22.7 billion, with the UK close on its tail with AED 22.5 billion worth of trade. Italy came in fourth with trade amounting to AED 16 billion, then France at AED 15.3 billion, Netherlands at AED 7.9 billion and finally Spain with a share of AED 5.4 billion.
According to Dubai Customs’ statistics, Dubai imports from Germany added up to AED 30.6 billion, representing 27 per cent of the Emirate’s overall imports from EU countries which hit AED 113 billion. Imports from Dubai’s second trading partner – UK– totalled 14.6 per cent at AED 16.5 billion, while Italian imports to Dubai constituted 12.7 per cent with AED 14.4 billion, France following closely with 12.1 per cent share of total imports at AED 13.7 billion, and Belgium with 9 per cent at AED 10.2 billion.
Dubai’s exports to EU countries recorded AED 7.1 billion, with the Netherlands having the biggest share at AED 2 billion. Dubai’s exports to Germany, UK, Belgium, Italy and Spain stood at AED 1.1 billion, AED 1 billion, AED 625 million, AED 601 million and AED 551 million respectively.
Total re-exports from Dubai to EU countries through the period from January to September 2015 scored AED 24.8 billion. Belgium was the leading destination for re-exported goods via Dubai at AED 11.8 billion, followed by the UK at AED 5 billion, Netherlands at AED 2.3 billion, Germany at AED 1.5 billion and France at AED 1.2 billion.
A major milestone seen on Dubai’s foreign trade landscape was the salient upsurge of 85 per cent in Dubai-Malta trade during the first nine months of 2015. The value of commodities traded between the two went up from AED 124 million through Q3 2014 to AED 229 million for the same period of 2015. Moreover, the Dubai-Luxemburg trade also surged by 62 per cent to touch on AED 262 million, compared to AED 161 million in same period of 2014. Also trade with Greece increased by 36 per cent to AED 649 million, coming up from AED 478 million through Q3 2014.
Strategic Partner
H.E. Sultan Ahmed Bin Sulayem, Chairman of DP World and Chairman of Ports, Customs & Free Zone Corporation, noted, “The European Union grabbed a 15 per cent share -AED 145 billion- of Dubai’s total non-oil foreign trade of AED 966 billion during January-September 2015.
“Dubai Customs strives to scale trade and investment prospects between Dubai and European nations to new ambitious heights, by putting at their disposal fast-track customs services that ensure added value and optimal profit. Mutual fertile grounds are already in place, offering an environment conducive to investment and more cooperation in all areas,” he added.
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