August 10, 2021
2 mins read

Dubai Chamber exports, re-exports to W.Africa up 42%

Export markets targeted by member companies were more balanced and diversified when compared to previous years…reports Asian Lite News

Dubai Chamber member companies’ exports and re-exports to West Africa surged by 42 percent in the first five months of 2021 to reach a record $387 million, fuelled by a recovery in trade activity, according to a recent analysis.

The analysis was released by Dubai Chamber of Commerce and Industry as it prepares to host the 6th Global Business Forum Africa in Dubai this October in cooperation with Expo 2020 Dubai. The data revealed that 3,201 Certificates of Origin for West Africa-bound shipments were issued between January and May 2021, marking a year-over-year increase of 20 percent, a Dubai Chamber press release said on Tuesday.

Export markets targeted by member companies were more balanced and diversified when compared to previous years, which is a clear sign that Dubai-based exporters are expanding to new markets.

Nigeria was the largest West African export market for member companies, accounting for a 32 percent share of the value of exports and re-exports to the region, followed by Ghana (17 percent), Ivory Coast and Guinea with 12 percent each, Senegal (8 percent), and Mali (4 percent).

Product categories of exports to the region were also diversified. Plastics accounted for 31 percent of exports, followed by electrical machinery/electronics (14 percent), machinery/mechanical appliances (13percent) and aluminium (6 percent).

The latest estimates by the International Trade Centre (ITC), indicate that there is potential for UAE traders to double their exports and re-exports to the Western Africa markets, currently valued at $2.1 billion.

In terms of markets, Nigeria is currently the largest market for member exports, yet it still has an estimated annual gap of $544 million worth of exports that could be captured in the near term by UAE traders. Senegal comes second with an untapped export potential of $397 million, followed by Ghana with $365 million.

The commodities with the highest untapped potential for export and re-export companies in the West Africa region include polyethylene, sugar cane and rice, trigger batteries, polypropylene, textiles from yarn and milk powder, pure copper wires and other products.

Through its network of representative offices, Dubai Chamber supports businesses exploring promising African markets. These offices – located in Ethiopia, Ghana, Mozambique and Kenya – identify market opportunities for Dubai Chamber member companies and support African businesses that are keen to enter the Dubai market.

ALSO READ: UAE minister meets Iran’s newly elected president in Tehran

ALSO READ: India, UAE conduct bilateral naval exercise ‘Zayed Talwar 2021’

Previous Story

Govt slaps new sanctions on Belarus regime

Next Story

UAE provides urgent aid to Greece

Latest from -Top News

Texas flash floods kill at least 24; Trump vows help

President calls tragedy ‘shocking’ as search for missing continues overnight At least 24 people have died in Kerr County, Texas, after catastrophic flooding swept through the region, prompting a large-scale rescue and

UK MPs Slam Pakistan Over Minority Abuses

Minority communities such as Shias, Christians, Hindus, and Ahmadis continue to face harassment, violence, and intimidation. In many cases, law enforcement either turns a blind eye or enables the attacks through inaction…reports

Words Won’t Stop China, Quad Must Deliver

 If the Quad aims to counterbalance China’s growing influence, it must expand its focus beyond the maritime domain and address the continental dynamics of the Indo-Pacific…writes Imran Khurshid Despite early concerns that
Go toTop

Don't Miss

DEWA shares soar on market debut

The stellar share rose to AED3.00 in early trade, up

Abdullah bin Zayed receives Bangladesh Minister of Foreign Affairs at Expo 2020

The meeting also covered all issues of common interest, developments