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Sharjah Exports Up 45pc in 2008

Data from the Sharjah Economic Development Department said the emirate’s imports and re-export values rose last year.

Imports in 2008 grew by 51.3 per cent to Dh40.4 billion.

The re-export industry, which includes transit, also showed significant growth of 34 per cent to Dh22.1 billion in 2008, compared to Dh16.5 billion 2007. In 2008, the commercial exchange size between Sharjah and Gulf Cooperation Council Countries totalled Dh8.5 million — up 41.3 per cent from 2007. The commercial exchange size between Sharjah and non-GCC Arab countries also rose from Dh3.7 billion in 2007 to Dh5.4 billion in 2008 — an increase of 45.9 per cent.

A trade surplus was also achieved in Sharjah’s trade with these non-GCC Arab nations, which went up 30 per cent to Dh3.5 billion last year, compared to Dh2.7 billion in 2007.

The rise in trade surplus is due to the increase of the re-export industry to Dh3.6 billion in 2008 from Dh2.9 billlion in 2007, while the transit industry has doubled in size during 2008, reaching more than Dh1 billion over its 
2007 values.

Data also showed that Sharjah’s imports grew consistently in the last three years. In 2006, imports reached Dh18.9 billion, Dh26.7 billion in 2007, and Dh40.4 billion in 2008. These imports consisted largely of capital goods, which catered to domestic producers manufacturing products that 
are exported.

The Sharjah Economic Development Development Department attributed the export growth to the emirate’s sound legislations, solid investment climate, strategic location, and its government’s strong decision-making abilities. “These figures prove that the emirate is able to become and important and actual partner in achieving high commercial exchange standards that will not only reap big revenues, but will also cater to the mutal needs of all strategic partners in the region,” the department said in a statement.

· business@khaleejtimes.com