Dubai's non-oil export up 43% in 07
Dubai's non-oil exports saw a growth of 43% to AED 167.9 billion at the end of 2007 from AED 117.4 billion in 2006 through exports by the august body's of over 100,000 members who make sure to break their own records in business acumen, according to official figures released on Wednesday.
Obaid Humaid Al Tayer, chairman of Dubai Chamber of Commerce and Industry (DCCI), said : "This dramatic increase in the number and value of the Certificates of Origin issued by the chamber in 2007 reflect the significant growth of Dubai economy.
''It is also directly attributed to the hard work of its members' efficiency in opening up new global markets and providing the opportunity of meeting up existing and fresh trade delegations while exposing the businesses to a whole new world of open door business policy.
The chairman added that the Chamber's commercial services department issued 559,652 Certificates of Origin in 2007, compared to 442,287 in 2006, recording an increase of 16% to over 210 destinations, whereas the total value of the commodities exported and re-exported through Dubai according to the Certificates of Origin issued in 2007 reached AED 167.9 billion, compared to AED 117.4 billion in 2006, recording a rise of 43% which is the highest till date.
Iran and Saudi Arabia emerged as the major destinations of exports. More than 75% of exports were destined to GCC countries and Iran. Together, the GCC countries were the destinations of 53.5% of the total exports, with export value of AED 19.4 billion. Iran and Saudi Arabia were the largest markets in the GCC, with total exports to these two countries reaching AED 35.9 and AED 31 billion respectively at the end of 2007.
They were also the busiest, in terms of frequency of transactions. Qatar closely followed with a 81.1% increase in the value of exports totaling AED 28 billion at the end of 2007. Kuwait, Oman and India were next in line with a 20.2, 45.3 and 81.3 percentage increase in total exports.(WAM)
Obaid Humaid Al Tayer, chairman of Dubai Chamber of Commerce and Industry (DCCI), said : "This dramatic increase in the number and value of the Certificates of Origin issued by the chamber in 2007 reflect the significant growth of Dubai economy.
''It is also directly attributed to the hard work of its members' efficiency in opening up new global markets and providing the opportunity of meeting up existing and fresh trade delegations while exposing the businesses to a whole new world of open door business policy.
The chairman added that the Chamber's commercial services department issued 559,652 Certificates of Origin in 2007, compared to 442,287 in 2006, recording an increase of 16% to over 210 destinations, whereas the total value of the commodities exported and re-exported through Dubai according to the Certificates of Origin issued in 2007 reached AED 167.9 billion, compared to AED 117.4 billion in 2006, recording a rise of 43% which is the highest till date.
Iran and Saudi Arabia emerged as the major destinations of exports. More than 75% of exports were destined to GCC countries and Iran. Together, the GCC countries were the destinations of 53.5% of the total exports, with export value of AED 19.4 billion. Iran and Saudi Arabia were the largest markets in the GCC, with total exports to these two countries reaching AED 35.9 and AED 31 billion respectively at the end of 2007.
They were also the busiest, in terms of frequency of transactions. Qatar closely followed with a 81.1% increase in the value of exports totaling AED 28 billion at the end of 2007. Kuwait, Oman and India were next in line with a 20.2, 45.3 and 81.3 percentage increase in total exports.(WAM)
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