DUBAI (Rahnuma): China maintained its position as Dubai’s biggest trade partner in the first half of 2018 with a total trade volume of 69 billion dirham (18.8 billion U.S. dollars), local media reported Tuesday.
Dubai’s total non-oil foreign trade in the first six months of 2018 reached 645 billion dirham, an increase of 0.78 percent from the same period last year, the United Arab Emirates’ (UAE’s) state news agency WAM reported.
In the first six months, India was Dubai’s second biggest trade partner with trade worth 56 billion dirham, followed by the United States, with 39 billion dirham, the report said.
Saudi Arabia remained Dubai’s largest Arab trade partner and its fourth largest global trade partner with 29 billion dirham in bilateral trade.
Gold trade topped the list of high-value commodities trade from January to June with a value of 76 billion dirham, followed by phones, 75 billion dirham, jewelry, 51 billion dirham, and diamonds, 47 billion dirham.
Total re-export registered a 14 percent growth to reach 203 billion dirham, confirming Dubai’s role as a regional and global re-export hub, with imports amounting to 377 billion dirham and exports of 65 billion dirham, the WAM reported.
Dubai, part of the seven emirates comprising the UAE, is a major oil supplier whereas oil contributes only 2 percent to its economy.
Ninety percent of the UAE oil is located in the biggest emirate and UAE capital Abu Dhabi.