Dubai Chamber of Commerce, one of three chambers operating under Dubai Chambers, announced that the value of member exports and re-exports grew 28.3 percent year-on-year (YoY) to reach 23.1 billion dirhams in May 2022, marking the highest level since August 2018.
Member exports and re-exports amounted to 104.3 billion dirhams between January and May 2022, achieving 15.8 percent YoY growth when compared to the same period last year. Over 291,000 certificates of origin were issued by the Chamber in the first five months of this year, recording a growth of 7.1 percent YoY.
This demonstrates once again the sustainability of economic growth in Dubai despite global constraints. It also reflects the competitiveness and flexibility of the commercial sector across the emirate in light of the implementation of the new Dubai Chambers strategy to diversify trade and target markets.
The Chamber’s offerings for Dubai traders to learn about the export potential in emerging and new markets have played a major role in diversifying the emirate’s network of trade relations and opening up new horizons for traders.
Chamber member exports and re-exports to GCC markets between January and May 2022 amounted to 55.5 billion dirhams, marking an 11.1 percent YoY increase compared to the same period in 2021. Member exports and re-exports in May 2022 reached 12.6 billion dirhams, marking a 12.1 percent increase compared to the previous month.
As per the Chamber’s report, GCC countries accounted for 55 percent of the total exports and re-exports of the members in May 2022. Member exports and re-exports to the top 10 markets outside the GCC jumped 20.5 percent to reach 31.5 billion dirhams YoY in the first five months of 2022.
In May alone, exports and re-exports of Chamber members in the same category recorded a growth of 16.3 percent YoY to reach 6.6 billion dirhams.
