Dubai’s trade with China surges 6% to $48bln in 2017
Dubai is a key re-export gateway for China’s trade with different markets around the world
Dubai’s foreign trade with China grew by 6 per cent to reach as high as Dh176.4 billion ($47.53 billion) in 2017, compared to Dh166.35 billion in 2016, according to a statistic released by Dubai Customs in line with the milestone visit of President Xi Jinping of China to the UAE.
The most notable growth occurred in Dubai-China re-exports trade which went up 60 per cent from Dh4.99 billion in 2016 to Dh7.97 billion last year.
Exports also soared 38 per cent to stand at Dh1.23 billion against Dh897 million, while imports recorded a 4 per cent growth from Dh160.47 billion to Dh167.2 billion.
“The booming two-way trade between Dubai and China is a testament to the deep and exemplary relationship enjoyed by our friendly nations,” said Sultan Ahmed bin Sulayem, DP World Group chairman & CEO and chairman of Ports, Customs and Free Zone Corporation.
“Dubai is a key re-export gateway for China’s trade with different markets around the world, and we are committed to providing the best of facilities and services to the Chinese business community to ensure this bilateral trade continues to grow and to further reinforce the UAE-China partnership,” he added.
“This is particularly relevant given the UAE’s position at the centre of China’s proposed Belt and Road plan which will see Dubai playing a vital part in connecting the countries and markets involved on the new silk road,” said Bin Sulayem. “To further promote Dubai’s strategic role in China’s external trade with the world, Dubai Customs spares no effort to better streamline and simplify procedures for Chinese traders to help get their goods into final markets in the most timely and cost effective manner,” said Ahmed Mahboob Musabih, director of Dubai Customs.
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