Credit Quality and Financial Performance
Dubai Economic Update
Highlights
Dubai is the 3rd largest centre for re-exports in the world which itself
represents 44% of GDP.
Dubai is a strategically located international trading hub with some of the
world's best air and sea ports serving over 205 destinations.
Dubai has developed a competitive edge in trade & logistics, tourism and
business services. These sectors are set to be engines of growth for the
emirate going forward.
Very large investments in infrastructure will have highly positive effects on the
long-run development and productivity of the emirate.
Lower inflation, stable USD and property market declines have enhanced
Dubai's cost-competitiveness.
Strength in emerging market currencies leaves UAE markets relatively cheap
by comparison.
Dubai 2008 GDP breakdown
UAE GDP by Emirate (2008)
=
100% USD 254b
Others
11%
Dubai GDP by Sector (2008)
100% = USD 82b
Financial Oil
Others
5%
Services 2%
8%
Abu Dhabi
57%
Dubai
32%
Manufacturi
ng
14%
Source: UAE Ministry of Economy
Trading &
Communicat
ion
47%
Construction
/ Real Estate
24%
Emirates NBD
Dubai's Strategic Location
Dubai Trade in 2010 (USD billion)
200
180
160
140
120
100
80
60
40
20
0
2005
2006
Imports
2007
2008
2009
2010
Exports & Re-Exports
Source: Dubai Statistics Centre; includes Direct Foreign Trade and Free Zone & Customer Warehouse Trade
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