GCC revealed as top export and re-export market for Dubai Chamber of Commerce members in 2023 with 55.6% of total exports valued at AED 158.1 billion

Date Posted: 5 March 2024

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Diversification of members' export markets supported by Dubai International Chamber’s growing network of international representative offices

• Non-GCC countries in the Middle East region accounted for 21.8% of total exports with a value of AED 62 billion.
• The Asia-Pacific region was the third-largest market with 9.5% of members’ exports and re-exports at a combined value of AED 27 billion.

• “We are focused on boosting Dubai’s foreign trade and achieving the goals of the Dubai Economic Agenda (D33).”
• “The establishment of 16 new representative offices in 2023 further enhances our efforts to achieve the wise leadership’s vision by strengthening our global network, diversifying the export markets of our members, and supporting Dubai’s dynamic business community.”
• “The diversity of destinations for chamber members’ exports and re-exports reflects the agility and competitiveness of traders in Dubai.”

Dubai, UAE – Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has revealed that the Gulf Cooperation Council (GCC) remained the top global export and re-export market destination for member companies in 2023, representing 55.6% of total exports and re-exports valued at approximately of AED 158.1 billion. The figures underline the continuing significance of the GCC market in the trade activities of chamber members.

Non-GCC countries in the Middle East region accounted for 21.8% of total exports and re-exports with a total value of AED 62 billion.

The Asia-Pacific region was the third largest market with 9.5% of members’ exports and re-exports at a combined value of AED 27 billion.

African markets ranked fourth on the list, accounting for 7.9% of chamber members’ exports and re-exports with a value of AED 22.4 billion.

European markets ranked fifth, accounting for 3.5% of total exports and re-exports with a value of AED 10.1 billion, while North American markets ranked sixth with 1.4% of the total and a value of AED 3.9 billion.

These were followed by Latin American markets, which accounted for 0.3% of total exports and re-exports in 2023 with a value of approximately AED 1 billion.

His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “We are focused on boosting Dubai’s foreign trade and achieving the goals of the Dubai Economic Agenda (D33). Dubai Chambers remains committed to supporting members in growing their trade in key markets such as Latin America, Europe, and Asia Pacific. The establishment of 16 new representative offices in 2023 further enhances our efforts to achieve the wise leadership’s vision by strengthening our global network, diversifying the export markets of our members, and supporting Dubai’s dynamic business community.”

His Excellency underlined the impressive ability of Dubai traders to adapt to global challenges in international trade, adding: “The diversity of destinations for chamber members’ exports and re-exports reflects the agility and competitiveness of traders in Dubai.”

The value of exports and re-exports of Dubai Chamber of Commerce members reached a combined total of AED 284.5 billion in 2023.