Dubai: Dubai Chamber of Commerce and Industry recorded a 20% month-on-month (m-o-m) increase in the value of member companies’ exports to Africa in June 2020, which reached AED 2.94 billion ($800 million). Of the AED 883 million ($240 million) worth of members’ exports and re-exports targeting Sub-Saharan Africa in June, AED 508.3 million ($138.3 million) went to East Africa, AED 249.5 million ($67.9 million) to West Africa, AED 92 million ($25 million) to Central Africa, and AED 33.3 million ($9 million) to Southern Africa. Despite the wide disparity in value among the sub-regions, West Africa, along with Central Africa, were the main drivers of the rebound seen in June. Member exports to North Africa accounted for two-thirds of the export value to Africa for June, or AED 2.05 billion ($558 million), followed by Sub-Saharan Africa AED 883 million ($240 million). Figure 1: Declared value of COOs for Africa-bound shipments (AED billion)On a regional level, the value of members’ exports to Central Africa saw the biggest m-o-m increase of 48%, followed by North Africa (25%), West Africa (12%) and Sub-Saharan Africa (8.6%).

Source: The North Africa Journal September 01, 2020 09:45 UTC