Dubai export diversification surges over five-year period
Dubai had increased its export diversification over the five-year period between 2002 and 2006, with Iran topping the list with a share of Dh94.3 billion or 15.2 per cent of the total exports that reached Dh621.4 billion.
"Although export performance in traditional niche markets remained positive, increasingly positive performance scores in other markets are shown to be due to content diversification," said the second subject of this month's Economic Bulletin from the Dubai Chamber of Commerce and Industry.
But the Iran market was only growing at a rate of seven percentage points lower than the 28 per cent average annual growth of total exports to 17 major markets and other trade partners.
India came in second with a share of 11 per cent or Dh68.3 billion and the third was Saudi Arabia, which registered a 5.7 per cent share at Dh35.4 billion. However, India's average annual growth was much higher at 71 per cent compared to Iran's 21.3 per cent and 12 per cent for Saudi Arabia.
Dubai Chamber said that export performance scores by the major partners were all positive, indicating favourable behaviour of exports to these destinations although with different reasons.
The Saudi market, for instance, had not been growing well but still ranked first in export performance due to increasing diversification of export contents. This means that Dubai had increased the number of products sent to Saudi Arabia in large volume.
The Netherlands was second in high-level performance following a combined push from total export growth and export content diversification. Its share to total exports was 2.4 per cent or Dh15.2 billion.
Dubai Chamber said that aside from using the value of exports in identifying an economy's major market, performance is also measured through the rate of expansion of the value and composition of exports to each destination.
"A common indicator of expansion of export value is the annual rate of change in the value of exports," it said in the bulletin. But the indicator of expansion of export content involves the levels of movements of the value of exports of commodities in a package sent to a certain destination.
This means that export performance measure is affected by sustained increases in the value of exports of minor products over a given period.
While Saudi Arabia was Dubai's largest market in the Gulf Cooperation Council in terms of export share, its annual rate level was way below the 28 per cent growth of total exports.
In the GCC it was only Qatar that exceeded the total growth, posting a 34 per cent rise or Dh11.4 billion in imports from the UAE while Oman's share was less than one per cent at Dh5.6 billion, the lowest among 17 major markets, and had been declining at an annual average rate of seven per cent. But the content diversification of Dubai exports to Oman had been significant, pushing it to third place.
Exports to Egypt had been growing high at an annual rate of 33.5 per cent with its performance score pulled up by content diversification, the same with Switzerland and Iraq, which grew 65.1 per cent to Dh23 billion and 43 per cent to Dh34.8 billion respectively.
The other markets for Dubai exports which grew at much higher rates than the total exports were The Netherlands at 102 per cent and Belgium at 67 per cent to Dh20 billion. Source
"Although export performance in traditional niche markets remained positive, increasingly positive performance scores in other markets are shown to be due to content diversification," said the second subject of this month's Economic Bulletin from the Dubai Chamber of Commerce and Industry.
But the Iran market was only growing at a rate of seven percentage points lower than the 28 per cent average annual growth of total exports to 17 major markets and other trade partners.
India came in second with a share of 11 per cent or Dh68.3 billion and the third was Saudi Arabia, which registered a 5.7 per cent share at Dh35.4 billion. However, India's average annual growth was much higher at 71 per cent compared to Iran's 21.3 per cent and 12 per cent for Saudi Arabia.
Dubai Chamber said that export performance scores by the major partners were all positive, indicating favourable behaviour of exports to these destinations although with different reasons.
The Saudi market, for instance, had not been growing well but still ranked first in export performance due to increasing diversification of export contents. This means that Dubai had increased the number of products sent to Saudi Arabia in large volume.
The Netherlands was second in high-level performance following a combined push from total export growth and export content diversification. Its share to total exports was 2.4 per cent or Dh15.2 billion.
Dubai Chamber said that aside from using the value of exports in identifying an economy's major market, performance is also measured through the rate of expansion of the value and composition of exports to each destination.
"A common indicator of expansion of export value is the annual rate of change in the value of exports," it said in the bulletin. But the indicator of expansion of export content involves the levels of movements of the value of exports of commodities in a package sent to a certain destination.
This means that export performance measure is affected by sustained increases in the value of exports of minor products over a given period.
While Saudi Arabia was Dubai's largest market in the Gulf Cooperation Council in terms of export share, its annual rate level was way below the 28 per cent growth of total exports.
In the GCC it was only Qatar that exceeded the total growth, posting a 34 per cent rise or Dh11.4 billion in imports from the UAE while Oman's share was less than one per cent at Dh5.6 billion, the lowest among 17 major markets, and had been declining at an annual average rate of seven per cent. But the content diversification of Dubai exports to Oman had been significant, pushing it to third place.
Exports to Egypt had been growing high at an annual rate of 33.5 per cent with its performance score pulled up by content diversification, the same with Switzerland and Iraq, which grew 65.1 per cent to Dh23 billion and 43 per cent to Dh34.8 billion respectively.
The other markets for Dubai exports which grew at much higher rates than the total exports were The Netherlands at 102 per cent and Belgium at 67 per cent to Dh20 billion. Source
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