Statistics released by Dubai Customs, in conjunction with Gitex Technology Week 2019, showed that Dubai almost doubled its foreign trade value in IT and telecom industry over the past decade, recording a growth of 97% from AED 117 billion in 2009 to AED 231 billion in 2018.
In the first half of 2019, trade in IT and telecoms went up 3% year-on-year to reach AED 118 billion compared to AED 114 billion in the corresponding half last year. Imports accounted for AED 60 billion, exports were up 15% to AED 875 million, and re-exports up 8% to AED 57 billion.
China is Dubai’s largest trade partner in IT and telecom market with a share of AED 32 billion, followed by Vietnam with AED 15 billion worth of trade and Saudi Arabia at AED 9 billion.
Smart and cell phones had the lion’s share in Dubai’s foreign trade in IT and telecoms with AED 66.6 billion worth of trade. Computers came second at AED 9 billion, followed by phone spare parts and accessories at AED 2.8 billion, data storage products at AED 1.7 billion, and smart TVs at AED 1 billion.
“Dubai’s strong trade performance in IT and telecom market is a testament to the pivotal role the emirate is playing as a leading regional and global hub of information and communications technology,” said Ahmed Mahboob Musabih, Director General of Dubai Customs.
Trade in IT and telecoms products is a key component of global trade and a major contributor to wider economic growth worldwide, Musabih added.