Dubai’s exports of crude aluminium to Brazil valued at AED44m in 2015

A new study conducted by the Dubai Chamber of Commerce and Industry revealed Brazil is Dubai’s top trade partner in Latin America. Non-oil trade between Dubai and Latin America valued AED17 billion in 2015. Chile ranked as Dubai’s second largest export market in Latin America.

The value of Dubai’s exports of crude aluminium to Brazil, for instance, amounted to AED44m and had an RCA exceeding 1,000 per cent. Crude aluminium exports to Mexico, meanwhile, totalled AED53m in value and scored an RCA of nearly 10,000 per cent.

Non-oil trade between the two parties makes up 67 per cent of the emirate’s total export and imports from the Latin American region.

“Despite the instability unfolding in the global economy – accompanied with dwindling demand – Dubai has succeeded in attracting global capital, which stands to develop the economy, and cement Dubai’s position as a secure business destination, offering an ideal environment for business and entrepreneurship,” His Excellency Hamad Buamim, President and CEO, Dubai Chamber of Commerce and Industry, said.

Meanwhile, Mexico ranked as Dubai’s second-largest non-oil trade partner in Latin America. The emirate’s mobile device imports from Mexico reached approximately AED1.3bn in value, while the total value of Mexican gold imports reached AED381 million.

Chile ranked as Dubai’s second-largest export market in Latin America, after Brazil, with a 13 per cent share of trade volume, but the country was not a major exporter to Dubai.

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“Dubai has come to be known internationally for its favourable business environment due to our visionary leaders who encourage future-focused planning and formulating innovative strategies that reflect positively on the competitiveness of Dubai’s imports in the global markets. This leads to increased global demand for the emirate’s imports and, subsequently, to a more developed trade network,” Buamim added.

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