Dubai-EU Trade Volumes Flat In H1 2012

Dubai’s trade volumes with the European Union (EU) increased marginally to Dhs77.2 billion during the first six months of 2012, up 0.25 per cent from Dhs77 billion during H1 2011, according to the latest foreign trade report released by Dubai Customs.

While Dubai’s imports from the EU reached Dhs61.2 billion in H1 2012, almost the same as H1 2011, exports to the EU rose over 15 per cent year-on-year to Dhs3.7 billion, official news agency WAM reported.

The value of re-exports to the EU during the first half of the year also increased 8.8 per cent to hit Dhs12.3 billion, the report said.

Dubai’s trade exchanges with the Eastern European countries rose significantly during the period: trading with Estonia rose 369 per cent, with Bulgaria 332 per cent, with Lithuania 225 per cent and with Slovakia, 77 per cent.

The main imports from these countries were furniture, petroleum oils, tobacco, telecommunication machinery and instruments, sunflower seeds and wires.

Meanwhile major exports to these nations included polyethylene, cigarettes, raw aluminum, plastic, printing films, glassware, acoustic devices and ceramics.

Auto-spare parts and accessories, engineering materials, telecommunication instruments and automobiles were some of the main re-exports to the Eastern European countries, the report added.

Dubai’s total non-oil foreign trade rose 12 per cent year-on-year to Dhs602 billion during the first half of 2012, Dubai Customs said last month. While imports grew 11.5 per cent, the value of exports and re-exports rose 13 per cent, said the report.

India maintained its position as the emirate’s top foreign trading partner, followed by China, the US, Switzerland and Saudi Arabia.