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FinancialNews


  • 12-03-19

    Dubai sees stability in 2018 non-oil trade

    (MENAFN) Dubai is maintaining a stable performance in its non-oil foreign trade, as it stood at USD353 billion last year to mark nearly the same amount as the one seen a year earlier.

    This comes regardless of the "negative impact of trade war among major global economic powers and the slowdown in global economic growth, accompanied by exchange rate fluctuations that contributed to limiting growth of international trade in both developing and developed countries," explained Dubai Customs.

    Based on Dubai Customs data, Dubai's trade via free zones reached USD144 billion to record a 23 percent boost last year, with direct trade standing at USD206 billion.

    Meanwhile, data revealed, customs warehouse trade in Dubai hit USD2.8 billion while re-exports jumped 12 percent to earn USD109 billion.

    Dubai Crown Prince Sheikh Hamdan bin Rashid Al Maktoum stated "the current growth of Dubai's non-oil foreign trade indicates that we are on the right track of revenue diversification in accordance with values and standards outlined in the 50-year charter."

    MENAFN1203201900450000ID1098239840

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