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.
Source: Zawya
