Saudi Arabia largest export and re-export market for Dubai Chamber members in first half of 2012 with a total value of Dh36.3 billion, a recent study developed by Dubai chamber of commerce and Industry said.
While the study highlighted that the Value of exports and re-exports of 9,194 members during the first half of 2012 grew by 13 per cent at Dh136.2 billion in the same period of 2012.
Dubai Chamber members’ exports and re-exports to Saudi Arabia during the first six months of 2012 reached a total value of Dh36.3 billion, representing 27 per cent of overall exports, making the kingdom the largest export market while Iraq was second at Dh19.4 billion.
The study further highlighted that proximity and ease of movement of goods within the region had made the GCC countries the busiest export and re-export destinations for Dubai Chamber members.
During the six-month period, 109,315 certificates of origin (COs) had been issued to export shipments destined to Saudi Arabia, accounting 30 per cent of all COs issued during the half yearly period.
The other large markets for the Chamber’s member were Qatar at a value of Dh10.4 billion, followed by Kuwait Dh8.8 billion, Oman Dh5.1 billion and India Dh2.8 billion.
While trade between UAE’s local companies and Dubai’s free zones and duty free shops placed the UAE as a large export and re-export market, at the value of Dh6.9 billion.