Dubai Chamber members’ export to China witness record level

Dubai Chamber members’ export to China witness record level

Staff Report

Dubai Chamber of Commerce and Industry member companies' exports to China in May 2020 increased 18% month-on-month (m-o-m) and 26% year-over-year (y-o-y) as the Chamber issued a record 256 Certificates of Origin (COOs) targeting the country worth over AED 283 million.

The value of COOs for May, the third-highest on record, marked growth rates of 14% m-o-m 2and 7% y-o-y. Unlike the previous spikes in declared values, the upward trajectory leading to the month of May was largely driven by solid growth in activity, which suggests a continuation in sustained future growth.

Vegetable oil (i.e. rapeseed oil / colza oil) dominated the value of member exports with a share of 53%. Plastics (i.e. ethylene-alpha-olefin