DUBAI CHAMBER: EXPORTS GO UP 24%

The value of exports and re-exports carried out by members of the Dubai Chamber of Commerce and Industry increased by nearly 24 per cent to reach Dh22.1 billion in March, compared to the same month last year, the organisation has revealed.

During the first quarter of 2021, the value of members’ exports and re-exports grew by 6.5 percent year-over-year (y-o-y) to reach AED54.8 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. More than 6,000 new member companies joined Dubai Chamber in the first three months of 2021, marking a growth rate of 38.6 percent y-o-y. Membership growth comes after several initiatives were unveiled over the last year, which enhanced Dubai’s value proposition to foreign investors and companies.

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 diversify the emirate’s foreign trade. Buamim noted that Dubai Chamber’s 11 international offices play a crucial role in expanding Dubai’s trade links with promising markets around the world.