A recent traders outlook survey 2014 conducted by Dubai Chamber of Commerce and Industry pointed to significant improvement in the outlook of Dubai’s traders for the year ahead.
According to the survey, the mean expectation rating for the year rose to 6.5 points, higher by 0.5 points than that of 2013 on a scale of 1 to 10 which represents the highest ratio of positive expectations over the past years.
The survey highlighted the growing expectations of Dubai traders on the performance of the trade sector when the rating was 5.9 in 2010 points while falling further to 5.7 points in 2011 and rising to 5.8 points for 2012; followed by significant gains to a mean expectation rating of 6.0 points for 2013 before rising to its five-year high level of 6.5 in 2014.
In 2011, economic reforms gained foothold in the emirate, leading to significant economic gains.
With this, and with the growing economic stability of the Gulf region, Dubai’s trading sector continued to expand.
Thus, it is not surprising to see performance expectations of Dubai traders rising to 5.8 points for 2012; followed by significant gains to a mean expectation rating of 6.0 points for 2013, the highest in the last five years.
The survey focused on top traders of machinery, industry inputs, vehicles, and household goods.
By employment size, large traders have higher expectation for trade performance in 2014.
It indicated that 60 percent of traders expect market demand to be at very good/good, greatly outnumbering the 6 percent who expect market demand to be poor/very poor as most positive demand expectations are noted for trading of machinery, industry inputs and vehicles; indicating expectations for greater industrial activities. Again, large traders are more bullish for demand during the year.