News Details

Dubai’s trade sector gets a boost as exports increase by 24%

United Arab Emirates

Food & Beverages

14-04-2021

The value of Dubai Chamber member exports and re-exports increased by nearly 24% to reach Dhs22.1 billion in March 2021, compared to the same month last year, the organisation has revealed. During the first quarter of 2021, the value of member exports and re-exports grew by 6.5% year-over-year to reach Dhs54.8 billion, reflecting growing momentum and increased trade activity in Dubai. A total of 166,759 certificates of origin were issued by the Chamber during the first quarter of this year and March saw a high of 62,235 certificates, reflecting signs of a recovery of the trade sector and enhanced economic competitiveness.

 

Over 6,000 new member companies joined Dubai Chamber in the first three months of 2021, marking a growth rate of 38.6% y-o-y. Membership growth comes after several new initiatives and measures were unveiled over the last year which enhanced Dubai’s value proposition to foreign investors and companies. In addition, 174,000 electronic transactions were processed by the Chamber in Q1-2021, while the number of ATA Carnets that were issued and received by the Chamber reached 965 over the same period, amounting to Dhs1.4 billion.

 

Commenting on the latest figures, Hamad Buamim, President & CEO of Dubai Chamber of Commerce and Industry, said the statistics reflect improving business conditions in Dubai and the positive impact of various stimulus packages and business-friendly measures, as well as an advanced logistics infrastructure and increased efforts to boost and diversify the emirate’s foreign trade. Buamim also noted that Dubai Chamber’s 11 international offices play a crucial role in expanding Dubai’s trade links with promising markets around the world, by identifying bilateral business opportunities, promoting the emirate as a global business hub, and assisting foreign investors who are keen to enter the market.