Dubai almost doubled its foreign trade value in IT and telecom industry over the past decade, recording a growth of 97 per cent from Dh117 billion ($32 billion) in 2009 to Dh231 billion ($63 billion) in 2018.
In the first half of 2019, trade in IT and telecoms went up 3 per cent year-on-year to reach Dh118 billion compared to Dh114 billion in the corresponding half last year, according to statistics released by Dubai Customs in conjunction with Gitex Technology Week 2019.
Imports accounted for Dh60 billion, exports were up 15 per cent toDh875 million, and re-exports up 8 per cent to Dh57 billion.
China is Dubai’s largest trade partner in IT and telecom market with a share of Dh32 billion, followed by Vietnam with Dh15 billion worth of trade and Saudi Arabia at Dh9 billion.
Smart and cell phones had the lion’s share in Dubai’s foreign trade in IT and telecoms with Dh66.6 billion worth of trade. Computers came second at Dh9 billion, followed by phone spare parts and accessories at Dh2.8 billion, data storage products at Dh1.7 billion, and smart TVs at Dh1 billion.
“Dubai’s strong trade performance in IT and telecom market is a testament to the pivotal role the emirate is playing as a leading regional and global hub of information and communications technology,” said Ahmed Mahboob Musabih, director general of Dubai Customs.
Trade in IT and telecoms products is a key component of global trade and a major contributor to wider economic growth worldwide, Musabih added. – TradeArabia News Service