Dubai Non-Oil Trade at Record $164 Billion in First Half 2012

Dubai’s non-oil foreign trade rose 12 percent to a record 602 billion dirhams ($164 billion) in the first half of 2012 from the year-earlier period, state-run news agency Wam said yesterday citing data from Dubai Customs.

India remains Dubai’s top foreign trade partner accounting for 13 percent of the emirate’s total foreign trade exchange during the first six months of the year, or 77 billion dirhams, followed by China and the U.S., the news agency said.

Dubai’s imports climbed 12 percent in the first half of 2012, while value of exports and re-exports increased 13 percent in the period, Wam reported. Gold was Dubai’s biggest import reaching 59 billion dirhams, followed by jewelry at 25 billion dirhams, the news agency said. Gold was also the sheikhdom’s top exported product, Wam said.

To contact the reporter on this story: Dana El Baltaji in Dubai at delbaltaji@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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