India was also the single largest importer of products from Dubai, accounting for 43% of its total exports. Dubai's total non-oil foreign trade, including direct, free zone and customs warehouse, grew by 29.6% in 2007, defying a grim warning by the World Trade Organization (WTO) of a slower global economic growth during the period.
The total non-oil foreign trade in 2007 increased by Dhs155 billion (Rs 1.55 lakh crore). It reached Dhs678 billion (Rs 6.78 lakh crore) from about Dhs523.5 billion in 2006, statistics compiled by Dubai World's Statistics Department showed.
Dubai's direct exports in 2007 registered an increase of 48% year on year, while direct imports rose by 35%. The year 2007 has been a phenomenal year for Dubai. The figures released by Dubai World Statistics Department only confirm the Emirate's ability to sustain rapid economic growth despite the worries at global levels, Sultan Ahmed Bin Sulayem, chairman, Dubai World, said.