Dubai’s trade performance has shown steady and sustainable growth over the last five years.
Dubai’s trade performance has shown steady and sustainable growth over the last five years.

Dubai Trade Volume Grew 8.2%

Dubai Trade Volume Grew 8.2%

Dubai’s trade volume grew a healthy 8.2% in 2016, compared to the previous year, despite a challenging macroeconomic environment which impacted global trade, reflecting the resilience of the emirate’s economy.
Dubai’s trade performance has shown steady and sustainable growth over the last five years, with non-oil trade volumes in metric tons registering a compound growth rate of 6.1% according to figures from Dubai Customs, TradeArabia reported.
Despite the increase in volumes, currency fluctuations impacted the dirham value of Dubai’s trade, reporting a decline of 4.1% between 2014-2016 from Dh1.331 trillion ($362 billion) to Dh1.276 trillion ($347 billion).
However, in euros, the figures grew 15% from €273 billion in 2014 to €314 billion in 2016.
The same trend occurred in sterling with trade values increasing from £220 billion ($401 billion) in 2014 to £257 billion in 2016, up 16.8%.
 Sultan Ahmed Bin Sulayem, DP World Group chairman and CEO and chairman of Ports, Customs and Free Zone Corporation, said: “Although we have witnessed periods of economic volatility, Dubai’s trade patterns continue to display strong resilience.
“The results highlight the wisdom of our leadership in planning for the years ahead for the benefit of the nation decades from now.
Dubai’s flexibility and ability to adapt to change and world class infrastructure are paying dividends.
The decision to diversify was taken over thirty years ago and is bearing fruit, focusing efforts on sustainable and accelerated growth.
It has helped shift our reliance from hydrocarbons to a wider variety of sectors able to support the economy long term.”
The International Monetary Fund recently announced a positive outlook for Dubai’s prospects in 2017 predicting 3.6% growth, slightly ahead of the 3.1% growth forecast announced by Sheikh Ahmed bin Saeed Al Maktoum, chairman of the economic development committee earlier this year.


Short URL : https://goo.gl/HnN0nw
  1. https://goo.gl/xw5Sjo
  • https://goo.gl/QTVMuQ
  • https://goo.gl/wcMEVC
  • https://goo.gl/Cs4UNu
  • https://goo.gl/AcW5iP

You can also read ...

WB Predicts Myanmar Growth at 6.7 Percent
Given the government’s efforts to accelerate reforms and to...
Economists say the rise in rates would be much steeper if markets believed that Italy was actually prepared to go through with the plans. So far (the market reaction) has been clear, but not extreme.
The European Union's budget commissioner says he hopes Italy's...
Poland to Become Less Dependent  on EU Funds
The Polish economy will become less and less dependent on the...
New export orders in European manufacturing PMIs have been slipping for months and are likely to fall further in May.
While the on-again, off-again threat of an all-in trade war...
South Korea has ranked 5th with 1.1% expansion.
South Korea’s economic growth rate ranked fifth among members...
Qatar Bans Goods From S. Arabia, UAE, Bahrain, Egypt
Qatar is stripping shop shelves of goods that come from rival...
Talent Deficit May Hit Major APEC Economies
Asia Pacific faces an imminent labor shortage of 12.3 million...
N. Korea Not Seeking US Aid
North Korea on Sunday fumed at US reports that the country is...

Add new comment

Read our comment policy before posting your viewpoints