May recorded the highest monthly value since 2018
104.3 billion dirhams of exports and re-exports of Dubai Chamber members within 5 months
Abdulaziz Al Ghurair: "The Dubai Chambers focuses in its new strategy on diversifying export markets, in order to serve the emirate's development plans."
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The Dubai Chamber of Commerce reported that the exports and re-exports of its members recorded in May 2022 their highest monthly value since August 2018, reaching 23.1 billion dirhams, registering a growth of 28.3%, compared to its value in May 2021, which amounted to 18 billion dirhams at the time, in a new indication of the sustainability of Economic growth in Dubai, and the competitiveness and flexibility of the commercial sector in the emirate, despite global challenges, and in light of the implementation of the new Dubai Chambers strategy to diversify trade and target markets.
The Chamber pointed out that the exports and re-exports of its members during the period (January - May 2022) recorded a growth of 15.8%, with a value of 104.3 billion dirhams, compared to 90.1 billion dirhams during the same period in 2021. The number of certificates of origin issued during the five months The first of this year, to more than 291,000 certificates, a growth rate of 7.1% compared to the number during the same period in 2021.
Sustainability of growth
The Chairman of the Board of Directors of Dubai Chambers, Abdulaziz Al Ghurair, stressed that “the growth achieved by the members’ exports and re-exports is a translation of the objectives 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 raise the value of trade The emirate will reach two trillion dirhams by 2026,” stressing that “the Dubai Chambers focus, in their new strategy, on diversifying the member’s export markets, in order to serve the emirate’s development plans.”
Al Ghurair pointed out that the facilities provided by the Chamber to Dubai merchants to identify export opportunities in emerging and new markets have played a major role in diversifying the network of trade relations in the emirate and opening new horizons for traders, reiterating the Chamber's commitment to work through various channels to enhance the competitiveness of Dubai's foreign trade.
exceptional performance
In turn, the Director General of Dubai Chambers, Hamad Mubarak Buamim, referred to the Chamber's reliance on its complex network of relations, which includes international partners and external offices, to improve the performance of the trade sector, which is one of the main pillars of the emirate's economy.
The Dubai Chamber of Commerce report revealed that the exports and re-exports of members of the Chamber, to the countries of the Cooperation Council for the Arab States of the Gulf during the period (January - May 2022), amounted to 55.5 billion dirhams, a growth of 11.1% compared to the same period in 2021, while the growth rate reached In May, about 12.1% compared to the previous month, where the value of exports and re-exports amounted to 12.6 billion dirhams in May 2022.
The Dubai Chamber of Commerce report showed that the Gulf Cooperation Council countries acquired a 55% share of the total exports and re-exports of members during the month of May 2022. The first of this year increased by 20.5% to reach a value of 31.5 billion dirhams, compared to 26.1 billion dirhams during the same period in 2021.
In May 2022 alone, exports and re-exports of Chamber members to the top 10 markets outside the Gulf Cooperation Council recorded a growth of 16.3%, amounting to 6.6 billion dirhams, compared to 5.6 billion dirhams in May 2021.
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