Dubai’s total export declined 18.7 per cent to stand at Dh167.6 billion in the first 11 months of 2009, according to the members of the Dubai Chamber of Commerce & Industry.
The export figures are down from Dh206.2 billion reported in the corresponding period last year.
Total number of export destinations surged to 163 in November and export value rose 10.2 per cent as compared to its value in the same period of 2007.
Exports for the month of November declined just 3 per cent and stood at Dh15.4 billion as compared to Dh15.9 billion in the month of October.
Eng Hamad Buamim, Director General of Dubai Chamber said, “Emirate is still a viable investment destination and retains its position of thriving hub in the region.” He informed that export figures were also impacted due to the Eid Al Adha holidays during the month.
Buamim also said that rise in export destinations indicates that the worst has been over, and the Emirate’s economy has been back on its foot.
“Following a relatively strong performance in October, exports for November remained nearly comparative, signaling a relative stability of exports,” he added.