India is Dubai’s second biggest trade partner

India has emerged as the second biggest trading partner of Dubai, after China. India’s overall volume, in the first half of 2021, is touching 38.5 billion dirhams.

Key Points

• As per a statement of Dubai government, Dubai had a trade volume of 86.7 billion dirham with China in H1 (first half) of 2021. It is followed by India and the U.S. respectively at second and third positions.
• Trade with India has increased by 74.5% year-on-year to 67.1 billion dirhams in 2021 from 38.5 billion dirham in H1 of year 2020.
• China recorded a growth of 30.7% growth year-on-year. It is having a total trade of 66.3 billion dirhams with Dubai in H1 2021.
• In H1 2021, the US traded 32 billion dirhams with Dubai. This amount has increased by 1% year-on-year from 31.7 billion dirhams in 2020.
• Saudi Arabia was placed at fourth position with the trade value of 30.5 billion dirhams. It has increased by 26% as compared to H1 quarter of 2020.
• Saudi Arabia is followed by Switzerland with trade volume of 24.8 billion dirham.

Total share of trade partners

Total share of the five biggest trade partners in H1 of 2021 amounted to 241.21 billion dirhams as compared to 185.06 billion dirhams in H1 of 2020. It has increased by 30.34%.

Which commodities topped the list of trade?

Gold topped the list of commodities in H1 external trade of Dubai, amounting to 138.8 billion dirhams. It accounts for 19.2% of Dubai trade. Gold is followed by telecoms amounting to 13% of total trade.  It is followed by Diamonds, jewellery and vehicle trade. Non-oil external trade of Dubai has increased by 31% in the first half of 2021.

Month: Current Affairs - September, 2021