Dubai's exports grew 6.5 per cent to Dh46.5 billion in the second quarter of 2009 compared to the previous three months, according to the Dubai Chamber of Commerce and Industry.
Exports to the GCC totalled Dh21.8bn, accounting for 47 per cent of the total shipments during the second quarter, ending in June.
"Despite the global economic downturn, monthly exports followed the moderately increasing pattern defined over the period prior to the dramatic surge in exports in the latter part of 2007 and into 2008," said Hamad Buamim, director general, Dubai Chamber.
The rise in exports from the emirate come as major economies including the US, Japan and China report increasing exports in June, which may suggest a tentative recovery in global trade.
Higher oil prices between 2007 and 2008 led to increasing disposable income in the Gulf and higher demand for imported goods, according to Mr Buamim.
Business to Saudi Arabia, the largest market in the GCC, rose by four per cent to Dh9.9bn compared to the previous quarter, while exports to Kuwait increased by the same margin to Dh2.6bn. Shipments to Qatar, Oman and Bahrain, the smallest market in the region, declined.
The number of exporters in the second quarter increased by 3.5 per cent to 6,516 from the quarter earlier, the chamber said Tuesday.
Dubai's African markets expanded by 13 per cent in the second quarter to Dh3.8bn, with leading market Egypt growing by 27 per cent to Dh1.4bn.
India and Pakistan were the largest South Asian markets for Dubai traders. Exports to the two countries expanded 38 per cent quarter-on-quarter to total Dh1.9bn.
Sixty four per cent of the exporters during the second quarter exported less than Dh1m but their exports amounted to only two per cent of total exports. In contrast, only 91 exporters exported at least Dh100m, but their total exports accounted for half of the quarter's total exports.
tarnold@thenational.ae
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The Bio
Name: Lynn Davison
Profession: History teacher at Al Yasmina Academy, Abu Dhabi
Children: She has one son, Casey, 28
Hometown: Pontefract, West Yorkshire in the UK
Favourite book: The Alchemist by Paulo Coelho
Favourite Author: CJ Sansom
Favourite holiday destination: Bali
Favourite food: A Sunday roast
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Have you been targeted?
Tuan Phan of SimplyFI.org lists five signs you have been mis-sold to:
1. Your pension fund has been placed inside an offshore insurance wrapper with a hefty upfront commission.
2. The money has been transferred into a structured note. These products have high upfront, recurring commission and should never be in a pension account.
3. You have also been sold investment funds with an upfront initial charge of around 5 per cent. ETFs, for example, have no upfront charges.
4. The adviser charges a 1 per cent charge for managing your assets. They are being paid for doing nothing. They have already claimed massive amounts in hidden upfront commission.
5. Total annual management cost for your pension account is 2 per cent or more, including platform, underlying fund and advice charges.
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Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Brief scores:
Toss: Kerala Knights, opted to fielf
Pakhtoons 109-5 (10 ov)
Fletcher 32; Lamichhane 3-17
Kerala Knights 110-2 (7.5 ov)
Morgan 46 not out, Stirling 40
Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital
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Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199
The biog
Born: Kuwait in 1986
Family: She is the youngest of seven siblings
Time in the UAE: 10 years
Hobbies: audiobooks and fitness: she works out every day, enjoying kickboxing and basketball