Dubai's trade growth slowed to 6.6 per cent in the first quarter of the year against a backdrop of a rocky global economy.
The emirate's non-oil trade reached Dh298.1 billion (US$81.15bn) during the quarter, up from Dh279.7bn during the same period last year, data released yesterday by Dubai Customs showed.
The rate of growth, however, dropped from 30 per cent in the same quarter in 2010 to last year.
"The continued growth in Dubai's foreign trade reflects the strength and resilience of the UAE economy, thereby affirming the wise approach adopted to support economic diversity," said Ahmed Butti Ahmed, the director general of Dubai Customs.
Dubai's exports and re-exports rose 8.5 per cent to Dh122.9bn between the first quarter of this year and the same period last year. Imports reached Dh177.2bn, up from Dh175.2bn during the same period.
Mr Ahmed forecast in April that Dubai's trade would surge by 20 per cent this year, despite concerns linked to cooling growth in Asia and the euro-zone crisis. But he expressed concern about international sanctions against Iran disrupting trade flows. Iran is a key market for a wide range of goods.
India remained Dubai's top trading partner during the first quarter. The value of imports, exports and re-exports between the two countries reached more than Dh40bn. More than half of that amount related to exports and re-exports headed to India.
China was the leading exporter to Dubai, with Dh25.5bn of goods flowing from the world's second-biggest economy. India was the next-biggest exporter, at Dh19bn.
Gold was Dubai's biggest export during the period, accounting for Dh18.6bn. International prices of the precious metal rose 5.6 per cent during the first quarter. Jewellery and other precious metals were the second largest exports at Dh1.4bn. Telecommunications equipment and devices were the leading re-export products, totalling Dh19.5bn, ahead of diamonds at Dh13.6bn.
Gold also topped the list of imports, accounting for Dh25.6bn.
tarnold@thenational.ae
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START-UPS%20IN%20BATCH%204%20OF%20SANABIL%20500'S%20ACCELERATOR%20PROGRAMME
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RESULTS
Men – semi-finals
57kg – Tak Chuen Suen (MAC) beat Phuong Xuan Nguyen (VIE) 29-28; Almaz Sarsembekov (KAZ) beat Zakaria Eljamari (UAE) by points 30-27.
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71kg – Shaker Al Tekreeti (IRQ) beat Fawzi Baltagi (LBN) 30-27; Amine El Moatassime (UAE) beat Man Kongsib (THA) 29-28
81kg – Ilyass Hbibali (UAE) beat Alexandr Tsarikov (KAZ) 29-28; Khaled Tarraf (LBN) beat Mustafa Al Tekreeti (IRQ) 30-27
86kg – Ali Takaloo (IRI) beat Mohammed Al Qahtani (KSA) RSC round 1; Emil Umayev (KAZ) beat Ahmad Bahman (UAE) TKO round
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
Test
Director: S Sashikanth
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Star rating: 2/5
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Votes
Total votes: 1.8 million
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Abdullah Abdullah: 720,841 votes
The biog
Siblings: five brothers and one sister
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UAE squad to face Ireland
Ahmed Raza (captain), Chirag Suri (vice-captain), Rohan Mustafa, Mohammed Usman, Mohammed Boota, Zahoor Khan, Junaid Siddique, Waheed Ahmad, Zawar Farid, CP Rizwaan, Aryan Lakra, Karthik Meiyappan, Alishan Sharafu, Basil Hameed, Kashif Daud, Adithya Shetty, Vriitya Aravind
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Director: Ruben Fleischer
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ADCC AFC Women’s Champions League Group A fixtures
October 3: v Wuhan Jiangda Women’s FC
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October 9: v Sabah FA
Stage 2 results
1 Caleb Ewan (AUS) Lotto Soudal 04:18:18
2 Sam Bennett (IRL) Deceuninck-QuickStep 00:00:02
3 Arnaud Demare (FRA) Groupama-FDJ 00:00:04
4 Diego Ulissi (ITA) UAE Team Emirates
5 Rick Zabel (GER) Israel Start-Up Nation
General Classification
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2 Sam Bennett (IRL) Deceuninck-QuickStep 00:00:12
3 Arnaud Demare (FRA) Groupama-FDJ 00:00:16
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'THE WORST THING YOU CAN EAT'
Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.
Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines:
Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.
Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.
Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.
Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.
Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.