Dubai’s iron and steel trade registered a 32.5 per cent jump in 2006 compared with 2005, reflecting the massive construction boom that is underway in the UAE and across the Gulf region.

According to a report compiled by the Statistics Department of Dubai World, some 8.1 million tonnes of iron and steel worth Dh30.1 billion ($8.19 billion) passed through Dubai’s entry points during 2006, as against 6.6 million tonnes worth Dh22.7 billion a year earlier.
The report said: “The sharp rise in volumes was the result of the growth in the construction sector, especially the giant real estate projects and infrastructure work like airport, roads, bridges, power lines and the metro.  We expect that this trend will continue over the next five years since many of these projects are in their early stages.”
The report shows that while Dubai imported 6.3 million tonnes of iron and iron products valued at Dh22.8 billion, it also registered significant exports (1.2 million tonnes, worth Dh4.1 billion) and re-exports (621,000 tonnes worth Dh3.1 billion).
According to Dubai World’s Statistics Department, Turkey topped the list of iron and steel exporters to Dubai, accounting for Dh 4 billion or 17.5 per cent of the total, followed by China Dh3.1billion (13.5 per cent), India Dh3 billion (13.1 per cent), South Korea Dh1.2 billion (5.1 per cent), and Germany Dh1.1 billion (4.9 per cent).
India led as an importer of iron and steel products from Dubai with a total order of Dh805.7 million (19.5 per cent), followed by China Dh411 million (10 per cent), Taiwan Dh409 million (9.9 per cent), Indonesia Dh246 million (6 per cent), and Pakistan Dh223 million (5.4%).
On the re-export front, Iran took the leading spot with Dh566.7 million (18 per cent), followed by India Dh263.5 million (8.4 per cent), Algeria Dh258 million (8.2 per cent), Iraq Dh211.5 million (6.7 per cent) and Qatar Dh188.2 million (6 per cent).