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GCC tops Dubai Chamber of Commerce export list with $11.11bln

GCC tops Dubai Chamber of Commerce export list with $11.11bln

GCC tops Dubai Chamber of Commerce export list with $11.11bln

Jun 04, 2024

UAE - The Dubai Chamber of Commerce highlighted that the GCC market remained the top global export and re-export destination for its member companies in the first quarter (Q1) of 2024.

The GCC region accounted for 55.50% of total exports and re-exports with a total value of nearly AED 40.80 billion, according to a press release.

Non-GCC countries in the Middle East region held the second position among members' top export destinations, representing 22.60% of exports and re-exports with a combined value of AED 16.60 billion.

Meanwhile, the African markets ranked third among the leading destinations for members' exports and re-exports in Q1-24, accounting for 9.70% of the total with an aggregated value of AED 7.10 billion.

The Asia-Pacific region ranked fourth on the list, covering 9.20% of exports with a value of approximately AED 6.80 billion.

European markets came in fifth place, with 2% of total exports and re-exports and a value of AED 1.40 billion.

North America ranked sixth with 0.60% of the total exports and re-exports and a total value of AED 443 million.

Latin American markets ranked seventh, accounting for around 0.30% of total exports and re-exports with a value of approximately AED 249 million.

The combined value of exports and re-exports by all members of Dubai Chamber of Commerce hit around AED 73.50 billion in the January-March 2024 period, with the chamber issuing 191,027 certificates of origin.

In 2023, the Dubai Chamber of Commerce registered 67,222 new members, which marked an annual rise of 20% from the number of new companies joined in 2022.