Dubai trade activity rises as $12bln of goods exported

Dubai Chamber members exports were up by 7.4% from June to August

  
Exports of Dubai Chamber members exceeded a combined value of AED 45 billion between June and August 2020, marking a 7.4 percent increase compared to the March-May period during the same year. Image courtesy Dubai Media Office Twitter handle. Image used for illustrator purpose

Exports of Dubai Chamber members exceeded a combined value of AED 45 billion between June and August 2020, marking a 7.4 percent increase compared to the March-May period during the same year. Image courtesy Dubai Media Office Twitter handle. Image used for illustrator purpose

The lifting of COVID-19 restrictions has produced an uptick in trade activities due to improved market conditions and business confidence, according to Dubai Chamber of Commerce and Industry.

Data from the chamber showed that AED 45 billion ($12.2 billion) of goods were exported by members from June-August, a 7.4 percent increase on the previous three months.

The chamber also issued 151,000 certificates of origin during that time, up from 135,000 for the previous period, an increase of 11.7 percent. The number of exporters also increased, from 4,066 to 4,630.

Chamber president Hamad Buamim said the latest export figures signal an uptick in activity within Dubai’s trade sector following the lifting of Covid-19 restrictions, improving market conditions and growing business confidence.

He underlined the importance of foreign trade to Dubai’s economy, saying the emirate remains resilient to the challenges of the pandemic.

(Writing by Imogen Lillywhite; editing by Daniel Luiz)

imogen.lillywhite@refinitiv.com

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© ZAWYA 2020

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