Dubai exports to GCC countries still strong

Dubai, Dec 10, 2008 (WAM) - Dubai's exports to major markets, affected by the credit crunch, could fall in 2009, but trade with other countries such as India could cushion the impact, UAE-based exporters said. The amount of Dubai's exports in the third quarter, which stood at Dh56.6 billion, is still higher than last year's Dh45.3 billion. However, a quarterly comparison showed that total exports of firms listed with the Dubai Chamber of Commerce and Industry declined slightly by 1.7 per cent in September from Dh57.6 billion in June.
According to the Dubai Chamber, exports to Iran dropped by 15.4 per cent, while exports to other destinations, which include the United States, Yemen, Qatar, China, Algeria, Indonesia and American Samoa, posted an overall decline of 25.9 per cent. Exports to GCC countries except Qatar are still rising.
Latest statistics from the Dubai Export Development Corporation showed that exports to India grew by 109 per cent between 2006 and 2007.