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Current Market Trend In Dubai Imports
However, Dubai imports is producing great figures in the city's economy -- bringing in products from well-known countries, like Japan, USA, and China have boosted the city's economic lifestyle as you see it today.
Large Import Market
Dubai is an opportunity for overseas company waiting to be tapped. Businessmen and companies from all over the world can take advantage of the major import duties for various products and services in Dubai. According to online figures, around US$17 billion worth of products are brought into the UAE each year and a majority of that goes to Dubai. This simple means that Dubai imports have seen a substantial growth since the city's economy reached its peak since 2007. The diversity in the market trends have opened up the local to foreign commodities affecting a city-wide lifestyle change and local consumers are in perpetual need of assorted goods from abroad.
Dubai - Major Product Imports In The UAE
Dubai imports make two-thirds of the entire importations in the United Arab Emirates. Various products, like food products, cement, and machineries are all shipped to Dubai every year. According to figures, major import duties come from Japan, United States, and China -- an approximate of US$ 6 billion every year.
A major product for import is cement to supply the basic raw materials for the construction boom that hit Dubai since 2009. Heavy machineries are also imported from other countries by both local and foreign investors for both government and non-government construction projects. Also import of food, like fruits and vegetables are prioritized in Dubai -- where the government is levying 12% interest from these perishable goods which is quite in need with the city's luxurious lifestyle.
Dubai Needs Pearls
There is a huge increase of pearl imports in Dubai. According to the Dubai Pearl Exchange, imports of high-quality pearls increased to 30% -- estimated to have a value of 99.6 million in local currency. Despite the hurdles with today's economic decline, Dubai is still continuing to import pearls from various countries to fit consumer needs.
Dubai Requires Skilled Professionals
Foreign products aren't the only basis of the steady increase in Dubai imports. Due to the sudden growth of the city's economy, as well as neighboring cities in the UAE, the need of skilled professionals to cater to the growing market trend in the city has made it possible for the locals to consider offshore options in dealing with the lack of skilled workers.
According to local figures, Dubai imports of foreign professionals are catered mostly to IT and health care industry. As more high-end companies open up in the city, such is also the need of highly-skilled professional to help them reach their company goals. Same can also be said of growing needs for quality health care services, like nurses and caregivers.
Taking Advantage of Imports for Investors
Due to the rising demand of foreign products and services, setting up a business in Dubai to take advantage of consumer needs would be more profitable than taking a dive with other offers. With a local agent, one can easily determine the basic necessities of the consumers and take advantage of it to import a wide range of products, ranging from food, technologies, even luxury items. However, it would be not to your advantage to import items like alcohol and cigarettes since there is quite a heavy tax attributed to these goods.
Starting A Business In Dubai
Putting up a business in UAE, especially if you're targeting Dubai imports as an opportunity is relatively easy. You can set up your own enterprise in one of the many Free Trade Zone district to give you complete control over your venture. However, in the case of imports, it would be more advisable to set up an enterprise with a local agent or sponsor since they know the market -- as well as keeping in touch with the regulation that you need someone in the city who will act in your stead for the business.
Article keywords: Dubai Imports, Market Trend
Article Source: http://www.articles3k.com
Ramapati Singhania specializes in creating and managing web businesses. His
latest website focuses on dubai company formation helping you to incorporate offshore companies in Dubai, Sharjah Airport, Jebel Ali and Ras Al Khaimah in the United Arab Emirates.