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Dubai / WAM
The value of exports and re-exports of Dubai Chamber members increased 21.8 percent year-over-year to reach AED147.3 billion in January-August 2021 period, supported by a rebound in trade activity in Dubai.
The chamber pointed out that the exports and re-exports of its members recorded year-over-year growth of 43.9 percent, reaching AED21.4 billion in August. A total of 58,154 certificates of origin were issued by Dubai Chamber in August, up from 48,129 certificates in July.
As a region, the GCC was the top export market for Dubai Chamber members between January and August. Chamber members’ exports and re-exports to the GCC countries during the January-August period recorded growth of 16.4 percent year-over-year to AED79.6 billion in the first eight months of 2021.
GCC markets accounted for 53 percent of the total exports and re-exports of members during the month. Members’ exports and re-exports to GCC countries reached AED11.4 billion in August 2021, jumping 37 per cent compared to previous month.
Chamber members’ exports and re-exports to the top 10 non-GCC markets recorded a growth rate of over 31 percent during the first eight months of 2021.
Hamad Buamim, President and CEO of Dubai Chamber, said the figures demonstrate strength and resilience of Dubai’s trade sector, which is seeing increased momentum as Expo 2020 Dubai approaches. He noted that Dubai Chamber is working closely with its partners in the public and private sector to support the five-year plan announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to boost Dubai’s foreign trade from AED1.4 trillion to AED2 trillion.
He noted that Dubai Chamber’s representative offices around the world are playing a crucial role in identifying export opportunities for Dubai Chamber members and the wider business community in Dubai, which enhance economic competitiveness and drive sustainable growth, adding Expo 2020 Dubai is expected to be a catalyst for boosting trade activity and fostering cross-border
economic cooperation.