Dubai trade bucks global slowdown trend.
Position | United Arab Emirates |
Dubai's economy has once again showed its resilience by posting a 5 percent year-on-year increase in non-oil trade during the January-June 2019 period due to a flexible business model and the ability to adapt to change that helped offset the impact of a slowdown in the global economy. Latest data released by Dubai Customs on Saturday reflects the emirate's strong competitiveness and trade-friendly polices as the global trade faces headwinds amidst the US-China trade war, geopolitical tensions and a volatile crude oil market. Dubai's non-oil foreign trade rose to Dh676 billion in the first half of 2019 from Dh644 billion in the corresponding period last year.
China remained the largest trading partner and trade with India registered a strong 20 percent growth, official data showed. Exports rose 17 percent to Dh76 billion while re-exports were up 3 percent at Dh210 billion. Imports grew 4 percent...
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