Dubai Records $54 Billion in Exports and Re-exports within 9 Months
During the first nine months of this year, the number of new member businesses registered with the Dubai Chamber of Commerce increased by nearly 43%, indicating a significant boom in business activity.
Dubai Chamber's Membership Boom
The total number of registered companies soared to an impressive 48,616, reflecting Dubai's growing appeal to businesses and investors seeking opportunities in a dynamic market.
Exports and re-exports cross the AED 200 billion mark.
Simultaneously, the exports and re-exports from these member companies surpassed AED 200 billion ($54 billion) during the same period. Although the chamber didn't provide a direct year-on-year comparison, the recorded AED 210 billion ($57.18 billion) figure indicates robust economic activity and a substantial increase from the preceding year.
Dubai's Rising Global Business Standing
This surge in new member companies not only underscores Dubai's attractiveness to businesses but also elevates its status as a leading global business destination. The city is increasingly being recognized for its strategic location, business-friendly environment, and diverse opportunities, making it a favored choice for companies and investors alike.
International Trade Momentum
Along with an increase in new members, the Dubai Chamber also noted a significant increase in ATA cargoes for products and commodities, reaching 3,209 during the nine-month period. This jump, along with the ATA Carnets value increasing by 123.6% to AED 3.3 billion, indicates strong momentum in international trade through Dubai.
Economic Growth Across Sectors
The local economy in Dubai grew by 3.2% in the first half of the year, according to a new economic report. Transportation, real estate, wholesale/retail trade, financial/insurance, accommodation/food service, and key sector improvements are the ones responsible for this expansion.
Dubai's diverse economic landscape continues to offer promising opportunities for companies and investors across various sectors, further solidifying its position as a thriving global business hub.