Export to Africa Reaches AED 2.94 billion, a 20% Month-on-Month Increase in June 2020

Dubai Chamber of Commerce and Industry, DCCI’s members export to Africa reached AED 2.94billion ($800 million), a 20% month-on-month increase in June 2020. Exports to North Africa alone was AED 2.05 billion ($558 million), accounting for two-thirds of the total export value to Africa in June.

DCCI used the Certificates of Origin (COO) issued to its member companies to track the value of exports and re-exports to Africa. The result showed a rebound in trade activities with Africa reached average levels seen around January – March 2020. Its member’s exports and re-exports targeting Sub-Saharan Africa was AED 833 million ($240 million), East Africa was AED 508.3 million ($138.3 million), and AED 249.5 million ($67.9 million) went to West Africa.

Likewise, AED 92 million ($25 million) went to Central Africa and AED 33.3 million ($9 million) to Southern Africa. After North Africa, Sub-Saharan Africa was the second-highest export destination at AED 883 million. West Africa and Central Africa were the main drivers of the rebound in June.

Considering the regional level, the export value of member companies to Central Africa saw the biggest m-o-m increase of 48%, followed by North Africa at 25%, West Africa’s 12%, and Sub-Saharan Africa’s 8.6%.

Nigeria was the best-performing market in Sub-Saharan Africa, for member’s exports reached AED 112 million. The main exports to Nigeria include plastics such as ethylene-alpha-olefin copolymers, polyethylene, plates, and sheets that amounted to 23% of the export value. Machinery, mainly in the form of drills, hydraulic engines, and appliances, accounted for 15% of exports to Nigeria.

It was Angola in Central Africa that accounted for AED 33 million worth of total export to the region. Foodstuff, cereals, flour, palm oil, and dairy products were the major commodities exported to Angola.

Dubai Chamber of Commerce and Industry predicts that the strong momentum observed in West and Central Africa is likely to continue in the second half of 2020. African countries continue easing trade restrictions, and business activities are returning to the pre-COVID-19 period.

Written by Joy Ejere Uche

Leave a Reply

Don’t worry! Your email address will not be published.

Reserve Your Seat Now

Register Now