Dubai iron and steel trade records 32.5% increase

Dubai's iron and steel trade registered a 32.5% jump in 2006 compared to 2005, reflecting the massive construction boom that is underway in the UAE and across the Gulf region.
According to a report compiled by the Statistics Department of Dubai World and released on Sunday (March 25), some 8.1 million tonnes of iron and steel worth AED 30.1 billion passed through Dubai's entry points during 2006, as against 6.6 million tonnes (worth AED 22.7 billion) a year earlier.
The report said, "The sharp rise in volumes was the result of the growth in the construction sector, especially the giant real estate projects and infrastructure work like airport, roads, bridges, power lines and the metro. We expect that this trend will continue over the next five years since many of these projects are in their early stages."
The report shows that while Dubai imported 6.3 million tonnes iron and iron product imports valued at AED 22.8 billion, it also registered significant exports (1.2 million tonnes, worth AED 4.1 billion) and re-exports (621 thousand tonnes, worth AED 3.1 billion).
According to the Dubai World Statistics Department, Turkey has topped the list of iron and steel exporters to Dubai, accounting for AED 4 billion or 17.5% of the total, followed by China AED 3.1billion (13.5%), India AED 3 billion (13.1%), South Korea AED 1.2 billion (5.1%), and Germany with AED 1.1 billion (4.9%).
India led as importer of iron and steel products from Dubai, with a total order of AED 805.7 million (19.5%), followed by China with AED 411 million (10%), Taiwan with AED 409 million (9.9%), Indonesia with AED 246 million (6%), and Pakistan with AED 223 million (5.4%).
On the re-export front, Iran took the leading spot with AED 566.7 million (18%), followed by India with AED 263.5 million (8.4%), Algeria with AED 258 million (8.2%), Iraq with AED 211.5 million (6.7%) and Qatar with AED 188.2 million (6%). Source