The Dubai Chamber of Commerce and Industry siad in a recent report that Saudi Arabia was the top Gulf Cooperation Council (GCC) destination for Dubai’s non-oil trade, with 45 percent of the trade market for 2015.
Outside of Saudi Arabia, Qatar received 12 percent of the market, Bahrain 8 percent, Kuwait 16 percent and Oman 19 percent.
Dubai’s non-oil trade with the GCC was approximately$34.5 billion during 2015, up from $20.1 billion in 2011. The report said Dubai’s main import from GCC countries was mineral products.
Products that yielded high trade surplus for Dubai included machinery; pearls, stones and metals; and transport equipment. Mineral products; animal fats and oils; chemicals and allied products; and base metals led to high trade deficits.
“The latest Dubai Chamber report highlights Dubai’s leading status as the regional commercial hub with state-of-the art infrastructure and a world class business environment,” Dubai Chamber President and CEO Hamad Buamim said. “Over the years, Dubai Chamber has been the main engine of trade growth in Dubai, and contributed to the development of the emirate’s economy by creating a favorable atmosphere for investment and business. Dubai’s robust trade ties with the GCC countries highlight its key role in enhancing business and trade activities in the region and beyond.”