Dubai Chamber Members' Exports To China Peak During May 2020 Dubai's diversification of exports and development of manufacturing industries identified as key factors driving the growth of China-bound exports.
You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.
Exports to China from member companies of the Dubai Chamber of Commerce and Industry increased by 18% month-on-month (m-o-m) and 26% year-over-year (y-o-y) in May 2020.
During the January-May 2020 period, the total number of COOs issued for China-bound shipments reached 1,100 certificates- a value that is almost double the value for the same period six years ago. 256 certificates of origin (COOs) worth over AED283 million targeting China were issued with growth rates of 14% m-o-m and 7% y-o-y.
The diversification of exports and development of manufacturing industries in Dubai were identified as key factors driving the growth of China-bound exports by the member companies.
Number of COOs for China-bound shipments (monthly). Source: Dubai Chamber of Commerce and Industry.
Source: Dubai Chamber Of Commerce And Industry
Vegetable oil led the member exports values with a share of 53%, with plastics (ethylene-alpha-olefin copolymers, polyethers, polymethylene) contributing another 25%. Food processing waste/residue added 12% to the total declared COOs value while the remaining 10% came from paper products.
Composition of COOs issued in May – by product type (percentage share in total declared value).
Source: Dubai Chamber of Commerce and Industry
Dubai Chamber's representative offices in Shanghai and Shenzhen are currently researching new business opportunities in the Chinese market, which Dubai-based based exporters, re-exporters and manufacturers, particularly those active in food processing, plastics, chemicals, packaging, base metals and construction materials can potentially benefit from.