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India became second largest foreign trading partner of Dubai after China

Dec 29, 2014 18:48 IST

India became second largest foreign trading partner of Dubai after China. This was revealed by the figures released by Dubai Customs on 28 December 2014 that provides trade data for the first nine months of 2014.

The figures show that China was Dubai’s top foreign trade partner with a trade value of 34 billion US dollars. As a result, the share of China increased 27 percent over the year 2014.

India followed next with a trade value worth 21.78 billion US dollar. However, among the Arab nations, India was at the top with trade volume worth 10 billion US dollars.

Dubai's non-oil foreign trade in the first nine months of 2014 was around 269 billion US dollars, with imports having the biggest share at 169 billion US dollars, exports at 23.41 billion and re-exports 76.23 billion US dollars.

Dubai’s foreign trade scored steady growth in the first nine months of 2014 with top trading partners. Dubai’s trade statistics for the first nine months of 2014 clearly show the Emirate’s solid foothold as a regional and international trading and investment hub. It maintained a high value despite the global decline in commodity prices.

This reflects Dubai’s trading capability to increase the volume of foreign trade, including imports, exports and re-exports, to compensate for any drop in prices.

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Read more Current Affairs on: India , second largest foreign trading partner , Dubai Customs

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