First quarter exports of Dubai Chamber members climb to a record high
Exports of 6,592 members of Dubai Chamber of Commerce and Industry (DCCI) in the first quarter of 2008 reached a record high of AED 49 billion, posting a year-on-year growth of 36 % from the AED 36 billion for the same quarter of 2007. Compared to the AED 47 billion exports in the last quarter of 2006, the figure represented a 6 % increase, according to the Economic Bulletin of the chamber.
''The GCC countries remained to be the largest recipient of Dubai exports, with 45 % of total exports valued at AED 22.2 bn destined to the region, and an additional AED 3.5 bn or 7 %, within the UAE, the Bulletin said.
Saudi Arabia and Qatar, it noted, were the largest markets in the GCC, with total exports to these two countries posting respective quarter growth of 11 and 5 % to reach respective total values of AED 9.5 bn and AED 7.8 bn. In terms of growth, however, exports to Oman expanded most significantly by 36% to reach a quarter total of AED 1.9 bn.
On the other hand, total export to Kuwait during the quarter, valued at AED 2.2 bn, was just about the same level as in the previous quarter. Bahrain, though remaining to be the smallest GCC market for Dubai�s exports, nevertheless appeared to be an expanding market with exports growing by a little less than 5 % to reach AED 0.8 billion.
According to the fugures, about 33 % of Dubai�s exports were destined to India and to neighboring countries, with total value of AED 17.2 bn, posting a quarter growth of 3.2 %. Fastest growing markets were Jordan and India, registering respective growths of 18 % and 15 %. In terms of value, however, exports to Jordan, valued at AED 0.9 bn, was very much lower than the AED 2.4 bn exports to India.
On the other hand, significant contraction of export markets were noted for Libya and Yemen, with exports to these destinations declining by 28 % and 15 %, respectively. Exports to other destinations declined from AED 6.9 bn to AED 6.4 bn, for a quarter decline of 7 %.
By number of export shipments made during the quarter, 109 exporters remained to dominate exporting activities of Dubai Chamber members, making 200 or more export shipments each, with accumulated value of AED 20.8 bn, or 42 % of the total export value for the quarter.
The export performance monitoring system of the Dubai Chamber has been tracking a strong and continuing export performance of its member, beginning in the 2nd quarter of 2006, especially of those catering to large number of markets. However, the number of markets of a great majority of the exporters remained restricted to only about 3, limiting their exporting activities to less than 20 during the quarter. Thus, the need for support system to strengthen exporters� capabilities to access new markets remains a necessity.
/WAM/
''The GCC countries remained to be the largest recipient of Dubai exports, with 45 % of total exports valued at AED 22.2 bn destined to the region, and an additional AED 3.5 bn or 7 %, within the UAE, the Bulletin said.
Saudi Arabia and Qatar, it noted, were the largest markets in the GCC, with total exports to these two countries posting respective quarter growth of 11 and 5 % to reach respective total values of AED 9.5 bn and AED 7.8 bn. In terms of growth, however, exports to Oman expanded most significantly by 36% to reach a quarter total of AED 1.9 bn.
On the other hand, total export to Kuwait during the quarter, valued at AED 2.2 bn, was just about the same level as in the previous quarter. Bahrain, though remaining to be the smallest GCC market for Dubai�s exports, nevertheless appeared to be an expanding market with exports growing by a little less than 5 % to reach AED 0.8 billion.
According to the fugures, about 33 % of Dubai�s exports were destined to India and to neighboring countries, with total value of AED 17.2 bn, posting a quarter growth of 3.2 %. Fastest growing markets were Jordan and India, registering respective growths of 18 % and 15 %. In terms of value, however, exports to Jordan, valued at AED 0.9 bn, was very much lower than the AED 2.4 bn exports to India.
On the other hand, significant contraction of export markets were noted for Libya and Yemen, with exports to these destinations declining by 28 % and 15 %, respectively. Exports to other destinations declined from AED 6.9 bn to AED 6.4 bn, for a quarter decline of 7 %.
By number of export shipments made during the quarter, 109 exporters remained to dominate exporting activities of Dubai Chamber members, making 200 or more export shipments each, with accumulated value of AED 20.8 bn, or 42 % of the total export value for the quarter.
The export performance monitoring system of the Dubai Chamber has been tracking a strong and continuing export performance of its member, beginning in the 2nd quarter of 2006, especially of those catering to large number of markets. However, the number of markets of a great majority of the exporters remained restricted to only about 3, limiting their exporting activities to less than 20 during the quarter. Thus, the need for support system to strengthen exporters� capabilities to access new markets remains a necessity.
/WAM/
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