Dubai Chamber records 26% y-on-y increase in member companies’ exports to China in May

The Dubai Chamber of Commerce and Industry member companies’ exports to China in May 2020 increased 18 per cent month-on-month and 26 per cent year-over-year, it said on Monday.

The chamber issued a record 256 Certificates of Origin (COOs) targeting the country worth over Dhs283m.

The value of COOs for May, the third highest on record, was up 14 per cent month-on-month and and 7 per cent year-on-year.

China-bound exports of Dubai Chamber members reach record level in May. To read more – https://t.co/nWWtE73Qvk pic.twitter.com/FfTZEa08Hv

— Dubai Chamber (@dubaichamber) August 24, 2020

Vegetable oil (rapeseed oil/colza oil) dominated the value of exports with a share of 53 per cent.

Plastics (ethylene-alpha-olefin copolymers, polyethers, polymethylene) contributed another 25 per cent to the total, followed by food processing waste/residue, which accounted for 12 per cent of the total amount.

The remaining 10 per cent of the total declared value of COOs came from paper products (fluting paper of recycled linerboard), chemicals, sugar, man-made filaments, wood, and vehicles.

Also, during from January-May 2020, the total number of COOs issued for China-bound shipments reached 1,100 certificates, almost double the number issued during the same period six years ago.

Dubai Chamber said in a statement via the Dubai Media Office that its representative offices in Shanghai and Shenzhen are studying new business opportunities emerging in the Chinese market from which firms in Dubai can benefit.

Dubai based exporters, re-exporters and manufacturers, particularly in the areas of food processing, plastics, chemicals, packaging, base metals and construction materials can tap the opportunities in China through the services of Dubai Chamber.