KHALEEJ TIMES, Wednesday, Sep 2, 2020 | Muharram 14, 1442
Value of Dubai Chamber members' exports to Africa up 20% in June 2020
Emirates:
The Dubai Chamber of Commerce and Industry recorded a 20 per cent
month-on-month (m-o-m) increase in the value of member companies' exports to
Africa in June 2020, which reached Dh2.94 billion ($800 million).
The value of exports and re-exports to Africa, tracked by Certificates of Origin
(COOs) issued to Dubai Chamber member companies, signalled a rebound in trade
activity with Africa to average levels seen during the January-March 2020
period. Of the Dh883 million ($240 million) worth of members' exports and
re-exports targeting Sub-Saharan Africa in June, Dh508.3 million ($138.3
million) went to East Africa, Dh249.5 million ($67.9 million) to West Africa,
Dh92 million ($25 million) to Central Africa, and Dh33.3 million ($9 million) to
Southern Africa.
Despite the wide disparity in value among the sub-regions, West Africa, along
with Central Africa, were the main drivers of the rebound seen in June. Member
exports to North Africa accounted for two-thirds of the export value to Africa
for June, or Dh2.05 billion ($558 million), followed by Sub-Saharan Africa Dh883
million ($240 million).
On a regional level, the value of members' exports to Central Africa saw the
biggest m-o-m increase of 48 per cent, followed by North Africa (25 per cent),
West Africa (12 per cent) and Sub-Saharan Africa (8.6 per cent).
Nigeria was identified as one of the best-performing markets in the Sub-Saharan
Africa during recent months. Members' exports to Nigeria in June amounted to
Dh112 million. Plastics such as ethylene-alpha-olefin copolymers, polyethylene
in primary forms, along with plates and sheets accounted for 23 per cent of
exports to this market. Machinery contributed another 15 per cent of exports,
and came mainly in the form of drills, hydraulic engines, and appliances.
Angola, Dubai's largest exports partner in the Central Africa sub-region,
accounted for Dh33 million worth of members' exports in June. The nature of
commodities exported to the country is broad, and includes foodstuff items, such
as cereal flour, palm oil, and dairy products, which are in high demand within
this market.
Strong momentum observed in West and Central Africa sub-regions is likely to
continue throughout the second half of 2020, as African cities continue easing
movement restrictions and business activity continues returning to pre-Covid-19
levels.
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