Dubai's exports increase by 18% in May

16:34, June 09, 2010      

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Total exports of Dubai, a member of the seven-strong federation United Arab Emirates (UAE), reached 17.5 billion dirhams (about 4.76 billion U.S. dollars) in May, an 18 percent increase over the same month in 2009.

A study released by the Dubai Chamber of Commerce and Industry also showed exports and re-exports of its members rose by 4 percent in May compared to the previous month, Arabian Business said in a report on its website Wednesday.

The study further revealed that the Gulf Cooperation Council ( GCC) continued to be a major export market for Dubai, the report said.

During last month, Saudi Arabia remained the leading export market for Dubai in the region, with export value reaching 4.1 billion dirhams, up 6 percent from April.

However, with exports to other GCC destinations slowing down in May, total exports to the region were slightly lower than the previous month, according to the study.

In non-GCC destinations, it indicated that the largest increase was noted for Iran, with exports to the country growing by 23 percent.

Although India remained the second largest non-GCC destination, exports to the country declined by 8 percent to 515 million dirhams, the study showed.

The GCC, a regional bloc founded in 1981, comprises the Gulf Arab states of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE. (1 U.S. dollar = 3.6738 UAE dirhams)



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