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The value of exports and re-exports by members of the Dubai Chamber of Commerce amounted to AED104.3 ($28.4 billion) between January and May 2022, achieving 15.8 percent YoY growth, compared to the same period last year.
The value of exports and re-exports grew 28.3% year-on-year (YoY) to reach AED23.1 billion ($6.3 billion) in May 2022, marking the highest level since August 2018.
Dubai has designed a strategic plan to boost foreign trade by up to AED2 trillion in five years. The Chamber's smart services, market intelligence and network of international offices have enabled member companies to diversify export markets, streamline trade processes and make informed business decisions, according to Abdul Aziz Al Ghurair, Chairman of Dubai Chambers.
Chamber member exports and re-exports to GCC markets between January and May 2022 amounted to AED55.5 billion, marking a 11.1% YoY increase compared to the same period in 2021,
Member exports and re-exports in May 2022 reached AED 12.6 billion, marking a 12.1% increase compared to the previous month.
As per the Chamber’s report, GCC countries accounted for 55% 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% to reach AED31.5 billion YoY in the first five months of 2022.
(Writing by Seban Scaria; editing by Daniel Luiz)
