Dubai Chamber members saw the declared value of their exports and reexports to African markets during the period Jan-Aug 2021 rise at a pace of 29% year-over-year to reach a record $7.8bn, on the back of robust recovery in both consumer and industrial demand. The analysis presented in this article suggests that significant growth in trade with the continent still lies ahead.
DCCI analysis estimates that there is approximately $9.7bn of remaining untapped export potential for UAE products in African markets, which could be captured by UAE exporters over the next 5 years. This translates into an opportunity to nearly double the annual value of current exports and re-exports. In addition to Egypt, which dominates North Africa in terms of markets with the highest remaining untapped potential, the analysis revealed a high concentration of opportunities in Eastern Africa, particularly in Ethiopia, Kenya, Djibouti and Tanzania. Moreover, 3 Western African markets, namely, Nigeria, Senegal, and Ghana also show high untapped potential under numerous product categories. Dubai Chamber is committed to helping the business community capture opportunities and tackle potential challenges in the African markets through hosting events that contribute to bridging the gap between regulators in African countries and international businesses. In this regard, Dubai Chamber is hosting the 6th edition of the Global Business Forum on Africa this coming October.