UAE tops HSBC Global Trade Confidence Index

04/05/2010 - Dubai Investment News
UAE tops HSBC Global Trade Confidence Index

Posted by Bob Brunskill

The UAE has come top of the latest HSBC Global Trade Confidence Index, cementing its reputation as one of the world's leading trading hubs.

Covering a total of over 5,100 importers and exporters in 17 countries - including key economies in the Asia-Pacific region and the Middle East as well as the UK and the US, the HSBC trade index is the only global survey of its kind.

Business sentiment is measured on a scale of 0 to 200, with 100 as a neutral reading. The UAE had the highest score with 134, followed by India at 133 and Vietnam at 132.

In addition, HSBC noted that 68 per cent of traders in the UAE expect emerging government regulations to benefit their businesses. The score was much higher than the 18 per cent recorded in Singapore, the 9 per cent in Hong Kong and the global average of 26 per cent.

Simon Vaughan Johnson, regional head of commercial banking for HSBC Middle East, said: "The UAE government has made substantial investments to build on the UAE's geographical advantage by investing in trade related infrastructure."

Last week, Dubai Investments (DI), the largest investment company listed on the Dubai Financial Market, recorded an impressive 85 per cent increase in profits during the first three months of 2010 compared to the final quarter of last year.
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