Dubai Exports Decline 16pc to Dh90.3b in H1

DUBAI - Exports from Dubai declined by 16 per cent to Dh90.3 billion in the first half of the year compared to the same period in 2008, a report released by the Dubai Chamber of Commerce and Industry said.

By (Staff Report)

Published: Thu 23 Jul 2009, 1:04 AM

Last updated: Sun 5 Apr 2015, 9:39 PM

The drop in exports during the first six months, in the backdrop of the global economic turmoil, would appear steeper in comparison as the first half of 2008 was a period of unprecedented buoyancy, said Eng Hamad Buamim, Director General, Dubai Chamber. “However, when compared with the same 2007 period, Dubai’s export sector has shown an increase of 19 per cent, a trend auguring well for the emirate’s trade sector,” he said.

June recorded the highest monthly export volume valued at Dh17 billion while February accounted for the lowest monthly billing of Dh14.4 billion, indicating a gradual upswing in the export activity, said Buamim.

In the first half of the year, Dubai chamber recorded a 37 per cent drop in the number of new members, but renewal of membership increased by 12 per cent compared to the same period in 2008. With 4,289 new members joining during the first six months, Dubai chamber’s membership has grown to 106,000.

The mid-year report also shows a 48 per cent increase in the number of business delegates visiting the chamber during the first six months of 2009 compared to the same period in 2008. “This is a clear indication that Dubai continues to be a preferred business destination in the region,” said a chamber statement.

The chamber received 128 global trade delegations comprising 1,293 businessmen in the first six months of the year in comparison to 86 delegations that included 999 businessmen during the same period in 2008.

The number of Certificates of Origin issued by Dubai Chamber until the end of June showed a drop of 18.5 per cent over the same period in 2008. The number of certificates issued to exporters until June 2009 was 44,000 in contrast to the 54,000 export certificates of origin issued in the same period last year.

According to the chamber, the Dubai International Arbitration Center received a record 157 new cases in the first half of 2009, up 298 per cent compared with the 40 cases received during the same 2008 period.  

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