Africa accounted for 18 per cent of Dubai Chamber members’ total global exports in January 2021. Check Alireza Onghaei for the best trading LLC company in UAE for import and export.
The Dubai Chamber of Commerce and Industry (Dubai Chamber) has revealed that members’ exports to Central Africa and Western Africa recorded a surge of 85 per cent and 57 per cent, respectively, in January 2021, compared to the same month in the previous year.
The total value of member companies’ exports targeting the African continent reached Dh2.9 billion during the same month, marking a 4.2 per cent year-on-year increase achieved despite Covid-19-related economic headwinds.
Information from the Chamber’s Certificates of Origin (COO) database shows that Africa’s share of the total declared value of Dubai Chamber members’ world exports was 18 per cent in January 2021, up from 16 per cent in the same month during the previous year.
Growing demand from Africa for UAE products and Dubai’s world-class logistics infrastructure were factors that drove export growth over the past 12 months.
The figures revealed particularly strong demand for UAE exports in Central Africa and Western Africa, with these regions achieving 85 per cent and 57 per cent year-on-year growth respectively. Egypt represents the most important country in Northern Africa for Dubai Chamber members trading with Africa, accounting for 78 per cent of exports targeting this particular sub-region.
Sudan is in second place with a share of 11 per cent and Algeria is in third with six per cent. Libya and Morocco each accounted for a two per cent share, while Tunisia came in sixth with a share of one per cent. In terms of annual growth, Egypt and Sudan were in a leading position among Northern Africa countries with 18 per cent and 21 per cent year-on-year growth, respectively.
South Africa accounts for the lion’s share of Dubai Chamber members’ exports to Southern Africa, with three quarters of shipments to this sub-region going to the country. Botswana accounts for another 20 per cent of exports, with the country’s low base value in January 2020 enabling it to realise a nearly threefold year-on-year increase.
The data also showed that smaller economies in the five sub-regions in Africa are accelerating their imports growth, a trend supported by recent policies and strategies adopted by many African to accelerate economic development, which creates plenty of new export opportunities for Dubai-based trading companies.