The Dubai Chamber revealed that the exports and re-exports of its members grew by 21.8% from January to August, amounting to AED 147.3 billion compared to AED 121 billion during the same period in 2020. They highlighted that exports and re-exports in August recorded a growth of 43.9% compared to August of the previous year, reaching AED 21.4 billion in August 2021, up from AED 14.9 billion in August 2020. The number of certificates of origin issued in August increased by 20.8%, totaling 58,154 certificates compared to 48,129 certificates in July 2021.
Hamad Mubarak Buamim, Director General of the Dubai Chamber, pointed out that the statistics demonstrate the strength and resilience of the trade sector in the emirate and its high capacity to overcome the challenges posed by the global economy due to the pandemic. He noted that the prudent leadership's vision and wise recommendations, along with the economic diversification of the emirate, played key roles in the sector's recovery and its return to a global leadership position.
He emphasized that the chamber is diligently working in collaboration with its global partners and overseas offices to support the goals of the Dubai Foreign Trade Plan, announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, to increase the emirate's trade value to AED 2 trillion over the next five years. Buamim considered that the chamber is making extraordinary efforts to raise awareness of external trade opportunities in promising markets and assist its members in establishing business partnerships that enhance the emirate's economic diversification and competitiveness.
Buamim added, “The growth in export performance comes with less than a month to go before the launch of Expo Dubai, where we are organizing global events and forums such as the Global African Business Forum, the Global Business Forum on ASEAN, and the Global Business Forum on Latin America to stimulate intra-trade for Dubai companies, making Expo Dubai a platform to enhance trade cooperation with emerging markets.”
The Dubai Chamber's report revealed that exports and re-exports of its members to Gulf Cooperation Council (GCC) countries grew by 16.4%, from AED 68.4 billion during the same period in 2020 to AED 79.6 billion in the first eight months of 2021. Exports and re-exports to GCC countries during August increased by 37% to AED 11.4 billion.
GCC markets accounted for 53% of the members' exports and re-exports in August, with Saudi Arabia ranking as the top market for member exports.
Furthermore, exports and re-exports to the top 10 markets outside the GCC showed a growth of 31.4% in the first eight months to AED 44.1 billion compared to AED 33.6 billion during the same period in 2020. In August 2021, exports and re-exports to these top 10 markets outside the GCC grew by 30.3% to AED 6.6 billion compared to AED 5.1 billion in July 2021, with Egypt leading this list, recording a growth of 27% in August, valued at AED 1.9 billion compared to AED 1.5 billion in July 2021.
