WAM Dubai, Apr 18th, 2012 (WAM)--Dubai's foreign trade climbed to a record 1.1 trillion dirhams ($299 billion) in 2011, up 22 percent from the previous year, according to the customs authority.

Imports increased 21 percent to 442 billion dirhams, while exports rose 44 percent to 98 billion dirhams. Re-export trade climbed 18 percent to 161 billion dirhams, the authority said.

H. H. Sheikh Hamdan Bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai said the record surge in the volume of Dubai foreign trade " reflects the strength of our national economy and its consistency", adding that it is also result of prudent financial and economic policies adopted by the national financial institutions under directives by the wise leadership.

He called on all competent authorities to double efforts and step up cooperation and coordination to sustain the momentum of the economic and trade boom.

WAM/MN