DCCI members’ exports, re-exports hit Dhs241b

24/11/2014 06:07 AST

A recent Dubai Chamber of Commerce and Industry (DCCI) study stated that the total exports of members in the first 10 months of the year peaked to a high of Dhs241 billion in 2014 registering an annual growth of about 1 per cent from an year ago value while the Chamber members’ exports and re-exports for the month of October valued at Dhs21.9 billion, and the number of members who exported reached 5,310.

The number of certificates of origin issued since the beginning of the year until the end of October were 731,000 registering a 6 per cent growth in comparison to the same period last year when the number of certificates of origin issued amounted to 688,000.

The GCC remained the largest export market of Dubai Chamber members, with export to the region touching Dhs13.8 billion in October equalling to 63 per cent of the total for the month.

Meanwhile, members’ exports to the region was lower by 1 per cent in October comparing to the same month last year as Saudi Arabia retained its dominance with 54 per cent of the total exports and re-exports of members to GCC valued at Dhs 7.5 billion, or 34 per cent of the total global exports and re-exports.

Also during October, the number of members who exported reached 5,310 which is 37 per cent of the total members; with 1,969 members exporting to Saudi Arabia during the month, at 3 per cent higher than October 2013.

The relative contributions of export to each of the major destinations within their respective groups was once again topped by Saudi Arabia at 54 per cent of the October total followed by Qatar (13 per cent) and Kuwait (12 per cent) UAE (10 per cent), Oman (7 per cent) and Bahrain (4 per cent).

The study further pointed out that due to proximity and easy movement of goods within the region, the GCC exports to Qatar stood at Dhs1.8 billion, Kuwait at Dhs1.6 billion, Oman at Dhs984 million and Bahrain at Dhs492 million while trade between companies in the customs territory of Dubai/UAE and those in the free zones/duty free shops and special areas of Dubai stood at 7 per cent, compared to previous year’s monthly total of Dhs1.4 billion.

In the main destinations outside of the GCC, Egypt was No 1 as it surpassed Iraq for exports and re-exports to Arab countries outside the GCC for members during the month of October valuing at AED 1 billion, registering a 17 per cent growth compared to the previous month and 44 per cent growth compared to October 2013 while re-exports of members to Iraq amounted to about Dhs1 billion during last October, down 59 per cent from Dhs2.4 billion of October 2013.

Other destinations that showed significant growth were India amounting to Dhs 550 million with a 62 per cent growth while value of exports and re-exports to Yemen valued at Dhs310 million, with an annual decrease rate of 39 per cent. The value of exports and re-exports to Jordan amounted to about Dhs470 million, Ethiopia at about Dhs380 million and Algeria at about Dhs210 million.

The Gulf Today