To offset the impact of the general slowdown in the world economy, Dubai restructured and broadened revenue sources
Dubai: Dubai saw a 17 per cent surge in the total volume of traded goods in the first half of 2016, rising as high as 49 million tonnes of commodities from 41 million tonnes the same period last year.
Dubai’s non-oil foreign trade added up to Dh647 billion from January to June 2016. Imports had the lion’s share at Dh401 billion, while exports and re-exports accounted for Dh74 billion and Dh172 billion, respectively.
The latest trade figures released by Dubai Customs indicate that Dubai is progressing well in its plan to reduce reliance on oil revenues and move towards an economy that depends on foreign trade as well as other income sources.
“To offset the impact of the general slowdown in world economy, lower commodity prices and the slump in oil prices, Dubai has wisely restructured and broadened its sources of revenue while taking considerable measures to stimulate growth in...Read more...