Capital Adequacy and Divisional Performance
Dubai Economic Update
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Highlights
Dubai is the 3rd largest centre for re-exports in the world which itself
represents 44% of GDP
Oil has played a progressively diminishing role in Dubai's economy as
compared to other sectors
Dubai's textbook model of diversification is being challenged, but is
responding with strong assistance from the Federation
Dubai is a strategically located international trading hub with some of the
world's best air and sea ports serving over 205 destinations.
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 81.7b
=
Financial
Services.
8%
Others
5%
Oil
2%
Abu Dhabi
57%
Dubai
32%
Manufacturi
ng
14%
Construction
24%
/ Real Estate
Trading &
Communicat
ion
47%
Emirates NBD
Dubai's Strategic Location
Source: UAE Ministry of Economy
Dubai Exports - 2009 (USD billion)
2009 Exports of USD 50.7b
+11% vs. 2007; -16% vs. 2008
5.0
4.6
4.2
4.2
4.2
4.3
4.2
4.0
4.0
3.9
4.0
3.9
Jan
Feb Mar
Apr
May
Jun
Jul Aug Sep
Oct
Nov Dec
Source: Dubai Chamber
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