Dubai’s foreign trade climbed to a record 1.1 trillion dirhams ($299 billion) in 2011, up 22 percent from the previous year, according to the customs authority.
Imports increased 21 percent to 442 billion dirhams, while exports rose 44 percent to 98 billion dirhams. Re-export trade climbed 18 percent to 161 billion dirhams, the authority said.
India was Dubai’s No. 1 trade partner last year, while trade with Iran, which lies across the Persian Gulf, is still “good,” Ahmed Butti Ahmed, director general of the Dubai customs union, told reporters today.