Dubai's GCC exports down in first quarter

For the first three months of 2009, total exports of Dubai Chamber members reached AED 14.5 billion in January, AED 14.2 billion in February and AED 15.4 bilion in March; for a total of AED 44.1 billion.

In the first quarter of 2009, Dubai Chamber members’ exports to 25 destinations exceeded AED 100 million each. During the period, the largest market remained to be the GCC, where exports grew from AED 17 billion in the first quarter of 2007, to AED 22 billion in first quarter 2008, but declining to AED 19 billion in 2009.

Exports to Qatar dipped by 36%; exports to Oman and Bahrain dipped by 29% and 10% respectively.

The total GCC exports declined despite the 1.3% and 12.0% increases in exports to Saudi Arabia and Kuwait, respectively.