GCC remains top export market for members in H1’23, reveals Dubai Chamber of Commerce

GCC remains top export market for members in H1’23, reveals Dubai Chamber of Commerce

Image: Dubai Media Office

Dubai Chamber of Commerce has revealed that the GCC was the top export and re-export market destination for its members globally during H1 2023.

Saudi Arabia was named as the top destination for members’ exports, with the total value recording year-over-year growth of more than 15 per cent to reach Dhs35bn.

Members’ exports to Kuwait during H1 2023 were valued at Dhs12.8bn, while exports to Qatar grew by 39.3 per cent compared to the same period in 2022 to reach a value of Dhs12.4bn.

Exports to Oman achieved year-over-year growth of 20 per cent in H1 2023, amounting to Dhs7.8bn, while exports and re-exports to Egypt reached a total of Dhs5.3bn. Meanwhile, exports to Iraq soared to Dhs4.7bn, representing year-over-year growth of 95.8 per cent.

Courtesy: Dubai Chamber of Commerce

H1 highlights: Dubai Chamber of Commerce

Mohammad Ali Rashed Lootah, president and CEO of Dubai Chambers, commented: “The diversity of our members’ export and re-export markets reflects their flexibility in responding to rapidly evolving global market conditions and is supported by our efforts to provide international investment opportunities.”

Lootah highlighted the vital role of Dubai International Chamber’s representative offices and the introduction of various commercial investment opportunities, which have been instrumental in increasing