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Supported by the rebound in Dubai’s trade activities, the value of exports and re-exports of members of the Dubai Chamber of Commerce increased by 21.8% year-on-year from January to August 2021, reaching AED 147.3 billion.
The Chamber of Commerce pointed out that exports and re-exports of its members increased by 43.9% year-on-year, reaching AED21.4 billion in August 2021. The Dubai Chamber of Commerce issued a total of 58,154 certificates of origin in August 2021, an increase from 48,129 certificates in July 2021.
As a region, the Gulf Cooperation Council is the largest export market for members of the Dubai Chamber of Commerce from January to August 2021. From January to August of 2021, exports and re-exports of members of the Chamber of Commerce to the Gulf Cooperation Council countries increased by 16.4% year-on-year. In the first eight months of 2021, they reached 79.6 billion dirhams.
The Gulf Cooperation Council market accounted for 53% of the total exports and re-exports of the members that month. Saudi Arabia ranks first, accounting for 42% of member exports. In August 2021, exports and re-exports of members to the Gulf Cooperation Council countries reached AED11.4 billion, an increase of 37% from the previous month.
In August 2021, Egypt was the largest export market outside of the Gulf Cooperation Council, and exports to the country by members reached 1.9 billion dirhams. Chamber members’ exports and re-exports to the top 10 non-GCC markets will be in the first eight months of 2021.
HE Hamad Buamim, President and CEO of the Dubai Chamber of Commerce, said that these figures show the strength and resilience of the Dubai trade sector, which is gaining momentum as the Expo 2020 Dubai approaches. He pointed out that the Dubai Chamber of Commerce is working closely with its public and partners, and that the private sector supports the five-year plan announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. Foreign trade increased from 1.4 trillion dirhams to 2 trillion dirhams.
He pointed out that the representative offices of the Dubai Chamber of Commerce around the world play a vital role in finding export opportunities for the members of the Dubai Chamber of Commerce and the wider Dubai business community, thereby enhancing economic competitiveness and driving sustainable growth, adding that 2020 The Dubai World Expo is expected to become a catalyst to promote trade activities and promote cross-border economic cooperation.
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