The Gulf Cooperation Council (GCC) market has remained the top global export and re-export destination for its member companies during the first half of 2024, revealed the Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers.
The GCC region accounted for 53.9 percent of total exports and re-exports with a combined value of around AED 78.6 billion ($21.4 billion), underlining the market’s continuing significance for the chamber’s members.
Non-GCC countries in the Middle East region ranked second among members’ top export destinations, accounting for 23.9 percent of exports and re-exports with a total value of AED 34.9 billion ($9.5 billion).
African markets ranked third among the leading destinations for members’ exports and re-exports during H1 2024, accounting for 9.9 percent of the total with a combined value of AED 14.5 billion ($ billion).
The Asia-Pacific region ranked fourth on the list, accounting for 9.2 percent of exports with a value of approximately AED 13.4 billion ($3.6 billion).
European markets came in fifth place, accounting for 1.9 percent of total exports and re-exports with a value of AED 2.8 billion ($762 million). Meanwhile, North America ranked sixth with 0.6 percent of the total exports and re-exports and a combined value of AED 946 million ($258 million).
Latin American markets ranked seventh, accounting for around 0.6 percent of total exports and re-exports with a value of approximately AED 839 million ($228 million).
The combined value of exports and re-exports by all members of the Dubai Chamber of Commerce reached approximately AED 145.9 billion ($40 billion) during H1 2024, with the chamber issuing 372,720 certificates of origin.
