Exports and re-exports of Dubai Chamber of Commerce members to West Africa increase by 42% in the first 5 months of 2021 – Dubai Blog

Recent analysis shows that, driven by the recovery in trade activity, the exports and re-exports of Dubai Chamber of Commerce member companies to West Africa increased by 42% in the first five months of 2021, reaching a record US$387 million.

The Dubai Chamber of Commerce is preparing to host 6^day In October this year, the Africa Global Business Forum was held in Dubai in cooperation with the 2020 Dubai World Expo. Data shows that 3,201 certificates of origin of West African goods were issued between January and May 2021, an increase of 20% year-on-year.

Compared with previous years, the export markets targeted by member companies are more balanced and diversified, which clearly shows that Dubai’s exporters are expanding into new markets.

Nigeria is the largest West African export market for member companies, accounting for 32% of the region’s export and re-export value, followed by Ghana (17%), Côte d’Ivoire and Guinea with 12% each, Senegal (8%) and Mali (4%) .

The categories of products exported to the region are also diversified. Plastics accounted for 31% of exports, followed by motors/electronics (14%), machinery/mechanical appliances (13%) and aluminum (6%).

The latest estimates from the International Trade Center (ITC) indicate that UAE traders are likely to double their exports and re-exports to the West African market, which are currently valued at US$2.1 billion.

In terms of market, Nigeria is currently the largest export market for members, but it still has an estimated annual export gap of US$544 million, which UAE traders can obtain in a short period of time. Senegal ranked second with an untapped export potential of US$397 million, followed by Ghana with US$365 million.

The commodities with the greatest untapped potential for export and re-export companies in West Africa include polyethylene, sugarcane and rice, trigger batteries, polypropylene, yarn and milk powder textiles, pure copper wire and other products.

Through its network of representative offices, the Dubai Chamber of Commerce supports companies in exploring promising African markets. These offices-located in Ethiopia, Ghana, Mozambique and Kenya-identify market opportunities for member companies of the Dubai Chamber of Commerce and support African companies eager to enter the Dubai market.