GCC markets make up 52% of Dubai Chamber members' exports in 2024

Post by: Bandan Preet

Photo: Dubai Government Media Office

Dubai Chamber of Commerce, one of the three chambers under Dubai Chambers, has announced that Gulf Cooperation Council (GCC) markets will continue to be the top destination for exports and re-exports by its members in 2024. GCC countries received 52% of the total exports and re-exports, with a combined trade value of AED 161 billion. This shows the strong business ties between Dubai Chamber members and the GCC region, reinforcing its importance in international trade.

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Markets in the Middle East, excluding GCC nations, ranked second as key export destinations. They accounted for 24.8% of total exports and re-exports, reaching a value of AED 76.8 billion. This reflects the steady trade relations that Dubai businesses maintain with other Middle Eastern countries.

African markets secured the third spot, receiving 10% of the total exports and re-exports from Dubai Chamber members. The trade value in this region reached AED 30.9 billion, highlighting Africa’s growing role in Dubai’s trade network.

The Asia-Pacific region followed in fourth place, contributing 9.6% of total exports and re-exports. The trade value in this region stood at approximately AED 29.7 billion, demonstrating Dubai's expanding business connections with Asia-Pacific countries.

European markets ranked fifth, with a share of 2.5% of total exports and re-exports. The value of trade with Europe was recorded at AED 7.9 billion, showing steady trade activity between Dubai Chamber members and European businesses.

North American markets were placed sixth, contributing 0.7% of the total exports and re-exports. The trade value in this region reached around AED 2 billion. Despite a smaller share, this figure indicates ongoing trade between Dubai and North America.

Latin American markets came in seventh place, making up 0.5% of total exports and re-exports in 2024. The trade value with this region reached AED 1.4 billion, showing growing economic ties with Latin America.

One of the most significant milestones of the year was that Dubai Chamber of Commerce members achieved a record-breaking total trade value. For the first time in the chamber’s history, the total value of exports and re-exports surpassed AED 300 billion. The final figure reached AED 309.6 billion, marking an impressive annual growth rate of 9.2%.

This remarkable growth reflects Dubai’s strong position in global trade and the continued expansion of its export and re-export markets. The figures highlight the confidence that businesses place in Dubai as a key trade hub and reinforce its role in connecting markets worldwide.

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