GCC Markets Accounted For 55.5% Of Dubai Chamber Of Commerce Members’ Exports And Re-Exports During Q1 2024 And Top List Of Export Destinations With Value Of AED 40.8 Billion

Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has revealed that the Gulf Cooperation Council (GCC) market remained the top global export and re-export destination for its member companies during the first quarter of 2024.

The GCC region accounted for 55.5% of total exports and re-exports with a combined value of around AED 40.8 billion, underlining the market’s continuing significance for the chamber’smembers.

Non-GCC countries in the Middle East region ranked second among members’ top export destinations, accounting for 22.6% of exports and re-exports with a total value of AED 16.6 billion.

African markets ranked third among the leading destinations for members’ exports and re-exports during Q1 2024, accounting for 9.7% of the total with a combined value of AED 7.1 billion.

The Asia-Pacific region ranked fourth on the list, accounting for 9.2% of exports with a value of approximately AED 6.8 billion.

European markets came in fifth place, accounting for 2% of total exports and re-exports with a value of AED 1.4 billion. Meanwhile, North America ranked sixth with 0.6% of the total exports and re-exports and a combined value of AED 443 million.

Latin American markets ranked seventh, accounting for around 0.3% 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 reached approximately AED 73.5 billion during Q1 2024, with the chamber issuing 191,027 certificates of origin. The international representative offices operated by Dubai International Chamber have played a vital role in enhancing the flexibility of Dubai-based traders in global markets.