Dubai is a vital connection point between East and West. Facilitating the global flow of goods, services and ideas, Dubai’s foreign trade amounted to USD 190 billion in 2011. Furthermore, its location positions it as a gateway to the emerging MENASA (Middle East, North Africa and South Asia) markets, which have a cumulative GDP of USD 3.6 trillion (2009) and an estimated one-quarter of the world’s population.
Although the UAE is not a major industrial nation, it is ranked the 19th biggest exporter in the world with $235 billion worth of exports and re-exports, according to the World Trade Organisation’s (WTO) latest global ranking, ahead of India, Australia and Brazil.
On the other hand, the country is the world’s 25th biggest importer with an import bill touching $170 billion. The UAE’s total foreign trade, currently at $405 billion (Dh1.48 trillion) outshines the country’s gross domestic product, which hovers around Dh1 trillion.
That’s why the country, which long has been one of the biggest buyers of aircraft, has started building them.