DUBAI: The UAE has been ranked among the top three global commodity trading hubs, according to Dubai Multi Commodities Centre’s, DMCC, latest Future of Trade 2020 report.
The role of 10 key trading hubs within global trade are assessed by Commodity Trade Index, CTI, and ranked based on an analysis of 10 indicators across the three key areas of locational and trading partners, commodity endowments and institutional factors.
The 2020 Index sees the United States marginally overtake the UAE for the top spot scoring 61 percent, with high scores for institutional and commodity endowments factors. The United Kingdom ranks third with an overall score of 46 percent coming in strong on trading and institutional factors.
Feryal Ahmadi, Chief Operating Officer, DMCC, said that the UAE will continue to bring in innovate products, services and regulations and set the industry standard to maintain the position.
Due to its oil exports and natural resource rents as a share of GDP, UAE receives the top score for commodity endowment factors of 74 percent. Also it stands fifth for institutional factors and sixth in locational and trading partner factors.
The Industry Digitalization Index, launched in 2016 and the Sustainability Index, launched this year are included in the Future of Trade 2020 report. It is the third edition of the DMCC’s Future of Trade 2020.
Source: WAM
