Dubai’s exports to Southern Africa growing fast

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• 81% growth to Southern Africa
• Saudi Arabia biggest export market
• Total H1 export growth of 7%

Southern Africa is fast emerging as a vital export destination for Dubai-based companies, new figures show.

Dubai Chamber of Commerce revealed on Wednesday that the emirate recorded an 81 percent year-on-year growth in exports to the region, to reach AED477.2 million ($130 million).

This was up from AED264 million ($71.8 million) in the year-earlier period, making Southern Africa the fastest-growing region for the emirate’s exports.

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Exports to Central Asia, Eastern and Northern Europe, and East Africa also showed rapid growth.

Saudi Arabia is the biggest export market for Dubai, with the total value of Chamber members' exports to Saudi Arabia recording year-on-year growth of more than 15 percent to AED35 billion ($9.5 billion).

The states of the GCC, which include Saudi Arabia, were the strongest export and re-export markets for its members in the first half of 2023. 

The rest of the top five export destinations were Kuwait, Qatar, Oman and Egypt.

Exports to Iraq, meanwhile, soared to AED4.7 billion, representing year-on-year growth of 96 percent.

The emirate is targeting an increase in non-oil foreign trade to AED2 trillion by 2026, as announced by ruler Sheikh Mohammed bin Rashid al Maktoum in 2021.

Mohammad Ali Rashed Lootah, president and CEO of Dubai Chambers, said: “The diversity of our members' export and re-export markets is supported by our efforts to provide international investment opportunities."

Lootah also highlighted the role of Dubai International Chamber’s representative offices in helping to increase the value of members' exports and re-exports by 7 percent from January to June, reaching AED137.6 billion ($37.5bn).