Dubai's foreign trade in products that are widely demanded during Eid festivities, such as ready-made clothes, shoes, perfumes and cosmetics, mounted up to around Dh28.2 billion in the first half of 2014, with a 12 per cent increase compared to the same period in 2013.
Imports accounted for Dh20.6 billion, exports Dh1.1 billion and re-exports Dh6.4 billion.
The flourishing tourism season in Dubai helps in increasing the demand for Eid-related products during holidays. Dubai is expecting more tourists during Eid Al Adha coming as the emirate's tourist attraction sites and luxurious malls offer unrivalled, memorable shopping experience. As many as 600,000 tourists visited Dubai during last Eid Al Fitr.
Dubai Customs statistics revealed that Dubai's foreign trade in ready-made wears reached up to Dh13.3b in the first half of 2014, with a 12 per cent increase compared to the same period in 2013, distributed over Dh10.6 billion worth imports, Dh166 million exports and Dh2.6 billion re-exports. Meanwhile, perfumes and cosmetics trade value grew by 11 per cent to Dh10.2 billion, of which Dh6.5 billion imports, Dh897 million exports and Dh2.8 billion re-exports. As for trade in shoes, it crossed the threshold of Dh4.6 billion with a surge of 18 per cent; Dh3.6 billion went for imports, Dh14 million for exports and around Dh1 billion for re-exports.
Ahmed Abdul Salam Kazim, director of strategy and corporate excellence, said: "Supporting the Dubai economy is our top priority, by anchoring the majority of trade sectors within the emirate. Dubai Customs is also keen on enhancing the role of shopping and tourism sector. In addition to the constant coordination with all commercial groups steered by the Dubai Customs' Advisory Board, seeking to boost cooperation with traders and investors.”
He added that Dubai Customs is also keen on improving its performance and minimising the time needed for clearing goods. Such endeavours are maintained by the constant development of information technology applications to further enhance and expedite border clearance. Dubai's clothing foreign trade is vividly diversified. China and Bangladesh are on the top of destination markets from where Dubai gets its imports. In terms of exports, the United Kingdom, Germany and the US have the major share. Re-export markets are led by GCC countries.
As for perfumes and cosmetics trade, France, the US and the UK got the bulk of imports market share, while most exports went to Saudi Arabia, Oman and Egypt, with GCC markets being the major destination of perfume and cosmetic re-exports. In footwear trade, the largest share of imports came from China, Italy and Vietnam respectively. Oman and the UK were on the top of exporting markets, while GCC markets headed the list as the main re-export destinations.
Source: Khaleej Times