Monday, 17 June 2019 03:45 GMT
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Dubai's foreign trade grows 7 percent in Q1 of 2019




(MENAFN) Dubai said its non-oil foreign trade in the first quarter of 2019 has grown strongly, despite the decline in global trade due to the challenges caused by trade disputes between the major international economic poles and the turmoil in many countries, Dubai, said that the Gulf emirate achieved 32 percent growth in trade volume in the first quarter of this year, the volume of goods in its foreign trade reached 27.71 million tons, an increase of 6.71 million tons compared to the first quarter of 2018.

The value of its foreign trade grew strongly, reaching AED 339 billion (USD92.2 billion) in the first quarter of this year, registering a growth of 7 per cent, up by more than 23 billion dirhams (USD6.2 billion) compared to the first quarter of 2018 .

The growth in the Dubai trade is due to the development of the foreign trade sector in the emirate. Dubai's foreign trade during the last ten years (2010-2019) grew by 58 percent, representing an increase of 124 billion dirhams (USD33.7 billion) Of AED 215 billion (USD58.5 billion) in 2010.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of the Executive Council said: "The strong performance of the foreign trade sector in the first quarter of 2019 demonstrates the national economy's ability to achieve growth and reflects the UAE's success in diversifying its economic structure.

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Dubai's foreign trade grows 7 percent in Q1 of 2019

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