Exports for Dubai saw an increase by 6.5% during the Q2 of 2009, from the Dh43.7 billion achieved in the first quarter, claims a study by the Dubai Chamber of Commerce and Industry.

As of now, the largest export market for Dubai Chamber members is the GCC region, in particular Saudi Arabia. 

During the second quarter, the total of exports to GCC countries was Dh21,808 billion, or 47 per cent of the value of exports. 

It was forwarded by Hamad Bu Amim, Director General, Dubai Chamber, “Certificates of Origin issued by the Dubai Chamber in 2009 show that despite the global economic downturn, monthly exports followed a moderately increasing pattern.”

He continued that oil prices hit an all-time high between 2007 and 2008, which led to increasing disposable incomes in the region and higher demand for imported goods.

An overall growth of 10 percent, to Dh16 billion, was posted by major markets in the Middle East during Q2. 

Furthermore, the study revealed a notable 13 percent growth in exports to major African markets in the second quarter, to a value of Dh3.8 billion. A double-digit growth was recorded by all African markets, except for exports to Libya. 

While registering a substantial quarter-to-quarter expansion of 38 percent, India and Pakistan (which have been the largest South Asian markets for Dubai traders), saw total exports reaching Dh1.9 billion in the second quarter.