Business / Economy

China remains Dubai's top trading partner in Q1 2016

(Xinhua) Updated: 2016-06-15 09:59

DUBAI - China topped Dubai's trading partners with bilateral trade totaling 39 billion dirham ($10.6 billion) in the first quarter of 2016, Dubai Customs said here on Monday.

India followed second with 24 billion dirham ($6.5 billion) worth of trade. The United States came third with 22 billion dirham ($6 billion).

China became Dubai's biggest trade partner in 2014, when it surpassed India for the first time with bilateral exchange hitting 175 billion dirham ($47.7 billion).

Over 4,000 Chinese firms run branches in the UAE, according to official reports.

As one of seven sheikhdoms forming the United Arab Emirates (UAE), Dubai harbors the biggest free port in the Middle East and is considered the trade and business hub of the Gulf Arab state.

Dubai registered growth of 319 billion dirham ($86.9 billion) of non-oil foreign trade commodities in the first quarter, UAE state news agency WAM quoted Dubai Customs figures as stating.

The volume of traded goods jumped by 17 percent year-on-year to 24 million tons, resulting from soaring re-export commodities and export goods.

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