Exports jumped by 47 percent year-on-year in the first three months of the year to AED22 billion while re-exports rose 44 percent year-on-year to AED49 billion.

“It was a very good start for the year, but it is unlikely that the second quarter will be as buoyant,” said Fabio Scacciavillani, chief economist at Oman Investment Fund.

Imports in Dubai, which account for nearly a third of the UAE’s gross domestic product, climbed 28 percent.

Dubai is recovering from last year’s $25 billion debt restructuring in its flagship company Dubai World.

Dubai’s economy should grow 2.8 percent this year, the International Monetary Fund forecasts, up from 0.5 percent in 2010.

A slowdown in the world’s top economies China and the US could however dampen trade growth going forward.

India was Dubai’s largest trade partner in the first quarter followed by China and the US, the data showed.

“Trade, tourism, logistics and financial services are, and will continue to be, the key economic sectors this year,” Hamad Buamim, director general at the Dubai Chamber of Commerce and Industry, said.

“We also see a lot of potential in African markets in the longer-term.”

But despite recovery, the once-booming property sector is still weak in Dubai, known for ambitious projects such as the world’s tallest tower.