GCC accounted for 53.9% of Dubai Chamber of Commerce members’ exports, re-exports in H1-24

Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has revealed that the Gulf Cooperation Council (GCC) market remained the top global export and re-export destination for its member companies during the first half of 2024.

The GCC region accounted for 53.9% of total exports and re-exports with a combined value of around Dhs78.6 billion, underlining the market’s continuing significance for the chamber’s members.

In a press release on Monday, the Dubai Chamber said, “Non-GCC countries in the Middle East region ranked second among members’ top export destinations, accounting for 23.9% of exports and re-exports with a total value of Dhs34.9 billion.”

African markets ranked third among the leading destinations for members’ exports and re-exports during H1 2024, accounting for 9.9% of the total with a combined value of Dhs14.5 billion.

The Asia-Pacific region ranked fourth on the list, accounting for 9.2% of exports with a value of approximately Dhs13.4 billion.

European markets came in fifth place, accounting for 1.9% of total exports and re-exports with a value of Dhs2.8 billion. Meanwhile, North America ranked sixth with 0.6% of the total exports and re-exports and a combined value of Dhs946 million.

Latin American markets ranked seventh, accounting for around 0.6% of total exports and re-exports with a value of approximately Dhs839 million.

The combined value of exports and re-exports by all members of the Dubai Chamber of Commerce reached approximately Dhs145.9 billion during H1 2024, and the chamber issued 372,720 certificates of origin.