An analysis this year showed that China was the top biggest trade partner of Dubai sans the oil. Since the first half of this year, China traded with Dubai for a total of $18.8 billion.
Dubai had been busy in foreign trade this 2018. For the first six months, Dubai amassed a total of 645 billion dirhams ($175.61 billion). It had increased 0.78 percent from the first six months last year when China was also Dubai's top foreign trading partner. This was stated by Xinhua Net, with a different trading partner following China as the largest contributor to Dubai's foreign profits.
Coming in at a close second is India, who in the first six months-traded with the country for a total of 56 billion dirhams. The third largest trade partner the United States, from which Dubai amassed a profit of 39 billion dirhams. Rounding out the top four is Saudi Arabia, first among Dubai's Arab trade partners with a total of 29 billion dirhams gained from bilateral trade relations.
China had historically been Dubai's largest foreign trading partner, with about 13.6 percent of Dubai's non-oil trade credited to them. They've also managed to add at least 1 trillion in trade during the same period last year, with figures from the Dubai trade growing from 1.276 trillion dirhams to a gross of around 1.302 trillion dirhams.
The government of Dubai, led by crown prince Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, credited the surge in foreign trade as well as the booming business with various nations to Dubai's competitiveness. ECNS News highlighted that key investors and trade partners are attracted by the bold approach of Dubai in trade, which has also enabled the nation to take a "front-and-center" position as an international trading hub and a regional trade partner.
The Dubai population could be seen as trendy, with mobile phones worth 174 billion dirhams collectively at the top of the list of items most valued among the incoming imports. Gold, diamonds, and vehicles followed, with at least 159 billion, 105 billion, and 70 billion dirhams in total imports, respectively.
Gold jumped at the forefront of the list this year, however. It came in at a total of 76 billion dirhams, followed by mobile phones, 75 billion dirhams; jewelry, 51 billion dirhams; and diamonds, rounding out the list at a total of 47 billion dirhams in export.
