Member companies of the Dubai Chamber saw a surge in their exports to China, during the month of May. The exports have increased 18% month-on-month (m-o-m) and 26% year-over-year (y-o-y). The Chamber issued a record 256 Certificates of Origin (COOs) targeting the country worth over AED 283 million.
Among the export merchandises, vegetable oil (rapeseed oil/colza oil) dominated the value of member exports with a share of 53%. Plastics (ethylene-alpha-olefin copolymers, polyethers, polymethylene) contributed another 25% to the total, followed by food processing waste/residue, which contributed 12% of the total.
The remaining 10% of the total declared value of COOs came from paper products (i.e. fluting paper of recycled linerboard), chemicals, sugar, man-made filaments, wood, and vehicles, the Dubai Chamber said in a press release.
With Dubai developing its rapeseed oil extraction and processing capacity in recent years, traders in the emirate have stepped up to fill gaps in the Chinese market created by ongoing trade tensions, which in turn gave a strong boost to Dubai’s total exports.
In addition, the ongoing diversification of Dubai’s exports and development of manufacturing industries in the emirate acted as other key factors driving China-bound exports of member companies.
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