India followed in 2nd place with 24-B dirham (US$6.5-B) worth of trade. The United States came 3rd with 22-B dirham (US$6-B).
China became Dubai’s biggest trade partner in Y 2014, when it surpassed India for the 1st time with bi-lateral exchange hitting 175-B dirham (US$47.7-B).
Over 4,000 Chinese firms run branches in the UAE, according to official reports.
As 1 of of the 7 Sheikhdoms forming the United Arab Emirates (UAE), Dubai harbors the biggest free port in the Middle East and is considered the trade and business hub of the Gulf Arab state.
Dubai registered growth of 319-B dirham (US$86.9-B) of non-Oil foreign trade commodities in Q-1, UAE state news agency WAM quoted Dubai Customs figures as stating.
The volume of traded goods rose by 17% Y-Y to 24-M tons, resulting from soaring trading in re-export commodities and export goods.
Latest posts by Paul Ebeling (see all)
- The Street’s Key Stock Analysts Research Reports - November 20, 2018
- Tesla’s (NASDAQ:TSLA) Used EVs, the Water in its Backyard - November 20, 2018
- Gold Steady, USD Down, Stocks Off + Commodities - November 20, 2018