Dubai Chamber exports rise 21% year-on-year

15/11/2010 - Dubai Investment News
Dubai Chamber exports rise 21% year-on-year

Posted by Bob Brunskill

The Dubai Chamber of Commerce & Industry saw the total exports and re-exports of its members hit AED 19.3 billion in October this year - a 21 per cent increase on the same month last year, new figures show.

In addition, the body said that the value of exports in October 2010 was the highest recorded since October 2008.

Hamad Buamim, the chamber's director general, claimed that the increasing movement of exports and re-exports over recent months was a strong indicator of Dubai's return to the basic export sector - one of the driving forces behind the emirate's economic recovery in the post-global financial crisis "scenario".

"The export figures of October 2010, which are the highest in the last two years, clearly indicate that the economy is getting closer to the pre-crisis era and augurs well for the future economic growth of the emirate as this upward trend will send a wave of confidence in the investors while reaffirming Dubai's position of a sound investment destination," he added.

It was also reported earlier this month that the value of equities traded on NASDAQ Dubai increased by 30 per cent in October 2010 compared to the same month last year.ADNFCR-2019-ID-800236502-ADNFCR