Dubai: India has emerged as Dubai’s second largest trading partner after China with the overall volume touched 38.5 billion dirhams in the first half of 2021, according to official data released on Sunday.
According to the Dubai government statement, the Emirate has a trading volume of 86.7 billion Dirhams and China in H1 (first round) in 2021, followed by India and the US in third place.
Trade with India grew 74.5% year-to-year to 67.1 billion Dirhams from 38.5 billion Dirhams at H1 2020.
China recorded a growth of 30.7% year-to-year with total trade with Dubai standing at H1 2021 In H1 2021., the US traded 32 billion Dirhams with Dubai, up 1% YoY from 31.7 billion Dirhams.
Saudi Arabia came fourth with 30.5 billion Dirhams rose 26% from H1 202PT0, followed by Switzerland at 24.8 billion Dirhams.
The total share of the five largest trading partners in H1 2021 totaled 241.21 billion Dirham compared to 185.06 billion dirhams at H1 2020, up 30.34 percent.
Gold occupied a list of commodities in H1 Dubai’s external trade at 138.8 billion Dirhams (19.2% of Dubai trade), followed by telecommunications at 94 billion Dirhams (13 percent).
Diamonds are third in the list at 57.3 billion Dirhams (8 percent), followed by jewelry at 34.1 billion Dirhams (4.7 percent), and vehicle trade with 28 billion Dirhams (4 percent).
Dubai non-oil external trade jumped 31% in the first half of 2021 reaching 722.3 billion dirhams of 550.6 billion dirhams in the appropriate period in 2020.
Exports grew 45% YoY at H1 2021 to 109.8 billion dirhams, who supported The aim of the 10 x 10 program (one of the initiatives of the ‘project 50’ state) to increase UAE exports into 10 global markets by 10% per year.
Imports rose 29.3% year-on-year to 414 billion Dirhams from 320 billion Dirhams.
Exports again grew 28.3% year-on-year until 198.6 billion Dirhams from 154.79 billion Dirhams.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince Dubai and Chair of the Executive Board, said Dubai had strengthened his status as one of the fastest growing business hubs in the world.
“The existing Dubai marine and air tissue will be expanded to cover 200 new cities throughout the world.
We believe that we will continue to build our growth momentum to achieve our ambitious projects and sustainable development plans,” he said.