Mon 01-03-2021 16:18 PM
DUBAI, 1st March, 2021 (WAM) — Dubai Chamber of Commerce and Trade has revealed that members’ exports to Central Africa and Western Africa recorded a surge of 85% and 57%, respectively, in January 2021, in comparison with the identical month within the earlier 12 months.
The entire worth of member firms’ exports focusing on the African continent reached AED2.9 billion throughout the identical month, marking a 4.2 p.c year-on-year improve achieved regardless of financial headwinds.
Data from the Chamber’s Certificates of Origin (COO) database exhibits that Africa’s share of the overall declared worth of Dubai Chamber members’ world exports was 18 p.c in January 2021, up from 16 p.c in the identical month in the course of the earlier 12 months.
The rising demand from Africa for the UAE’s merchandise and Dubai’s world-class logistics infrastructure had been components that drove export development over the previous 12 months.
The COO figures revealed that Egypt represented crucial nation in Northern Africa for Dubai Chamber members buying and selling with Africa, accounting for 78 p.c of exports focusing on this explicit sub-region.
Sudan is in second place with a share of 11 p.c and Algeria is in third with six p.c. Libya and Morocco every accounted for 2 p.c of the share, whereas Tunisia got here in sixth with a share of 1 p.c. By way of annual development, Egypt and Sudan had been in a number one place amongst Northern Africa nations with 18 p.c and 21 p.c year-on-year development, 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 nation. Botswana accounts for an additional 20 p.c of exports, with the nation’s low base worth in January 2020 enabling it to grasp a virtually threefold year-on-year improve.
The information additionally revealed that smaller economies within the 5 sub-regions in Africa are rising their imports, a development supported by latest insurance policies and techniques adopted by many African to speed up financial growth, which creates loads of new export alternatives for Dubai-based buying and selling firms.
WAM/Esraa Ismail/MOHD AAMIR