The value of exports and re-exports by Dubai Chamber of Commerce and Industry (DCCI) members reached Dhs136.2 billion during the first six months of this year, an increase of 13.3 per cent compared to the same period in 2011.

Dubai Chamber’s half year data shows that its members’ exports and re-exports between January and June 2012 were worth Dhs16 billion more than the same period in 2011, when they were valued at Dhs120.3 billion.

Also, making a record was the month of May as Dubai Chamber members’ exports and re-exports achieved the highest monthly tally of Dhs28 billion since the founding of Dubai Chamber in 1965. This particular month registered a 26.3 per cent growth compared to May of 2011, which had a total of Dhs22.1 while the monthly figure of Dhs19.7 in February was the lowest during the six month period.

During the first half, Dubai Chamber issued a total of 373,000 certificates of origin (COs). This is an increase of 8.4 per cent, compared to the 344,067 certificates of origin issued during the first six months of 2011.

May was the month with the highest number of certificates issued 70,000, while February was the month with the least 57,000.

Between January and June, a total of 7,000 new members joined Dubai Chamber. This is a 30 per cent increase on the same period in 2011 when 5,233 new members joined.

This increases the total number of Dubai Chamber members to over 135,000 by the end of June.

In the first half of 2012, Dubai Chamber reviewed 19 federal and local laws and ministerial decisions.

These drafts include law concerning foreign investments, a draft law concerning Financial Restructuring and Bankruptcy, and Ministry of Labour decisions pertaining to wages protection, work permits and classification of establishments as well as Law amending Criminalisation of Money Laundering — Law No: 4/2002 and Cabinet Decision Pertaining to Local Products’ Priority in Government Purchases, 2012. Hamad Buamim, Director General, Dubai Chamber, stated that the excellent performance of the trade sector, especially this time achieving the highest monthly total since the founding of Dubai Chamber in 1965, clearly shows the strength of the trade sector in driving the economic growth of Dubai.

“Our members’ export and re-export figures reinforce the investors’ confidence in the health of Dubai’s trade sector which is leading the economic drive along with tourism, logistics and financial services while also indicating that the emirate’s economy is poised to meet its forecasted percentage growth this year,” said Buamim.