India has emerged as Dubai's second largest trade partner

MUMBAI: India has emerged as Dubai's second-largest trading partner after China, with trade reaching Rs 4.5 billion in the first half of 2021.

According to a Dubai government statement, the emirate's trade with China in the first half of 2021 was worth Rs 12.5 billion. (1 dirham = Rs. 40.11) then India is second and America is third. Trade with China grew by 20.5 per cent year-on-year to Rs 12.5 billion in the first six months of 2020. In the first six months of 2021, the US traded with Dubai for Rs 4.5 billion, an increase of just 1 per cent year-on-year to Rs 4.5 billion.

Saudi Arabia is the fourth largest trading partner with a trade volume of Rs 214.5 billion, followed by Switzerland with a trade volume of Rs 4.5 billion. In the first six months of 2021, the total share of the five largest trading partners rose by 20.5 per cent to Rs 30.4 billion from Rs 31.5 billion a year ago.

Gold topped the list of commodities in Dubai's foreign trade with Rs 21.5 billion, accounting for 12.5 per cent of Dubai's total trade.

Dubai's non-oil foreign trade grew by 21 per cent to Rs 16.5 billion in the first half of 2021, from Rs 1,106.5 billion in the same period in 2020.

In the first six months of 2021, Dubai's exports grew by 9 per cent year-on-year to Rs 206.05 billion, while imports grew by 7.5 per cent year-on-year to Rs 4.5 billion.