Dubai's non-gov't exports, re-exports up 16.5% in H1

Dubai's non-government exports and re-exports rose by more than 16 percent in the first half of 2011, latest figures from the Dubai Chamber of Commerce and Industry showed on Wednesday.The value of exports and re-exports reached AED120.2bn ($32.7bn) during the first six months of the year, $17bn more than in the same period in 2010.May saw the highest value of exports and re-exports with AED22.1bn, a 26 percent increase compared to May 2010 and the highest monthly year-on-year percentage increase during the six months.February saw the lowest value of exports and re-exports, with AED17.5bn, but this was still an eight percent increase compared to February 2010.Hamad Buamim, director general, Dubai Chamber, said the half year results were positive and pointed to continued strength in Dubai's economy."Our members' export and re-export figures are a good indicator of the health of Dubai's trade sector, so it is extremely positive to see year-on-year growth reach double figures. "The trade sector plays such a major role in the overall health of Dubai's economy that this is certainly a strong indicator that the economy is on track to meet its forecast percentage growth this year," said Buamim.The UAE's trade and business hub is recovering from last year's $25 billion debt restructuring in its flagship company, Dubai World, after its 2009 standstill sent global markets reeling.Top Dubai officials said in June key sectors such as trade, tourism, air transport and services grew in the first half.The International Monetary Fund (IMF) said in March it forecast Dubai's trade and property-focused economy to expand by 2.8 percent this year.Buamim added: "Dubai continues to be an attractive destination for businesses today. The number of foreign trade delegations that we welcomed between January and June demonstrates that Dubai is still a leading international business destination that continues to attract significant global attention." from / Arabian Business News