Dubai: Dubai Chamber said on Tuesday that exports in March reached Dh25.5 billion for its members, marking a year-on-year increase of five per cent compared to the same period last year.
The exports, however, inched up seven per cent from February (Dh23.9 billion), according to a latest study released by the Chamber.
It revealed that the Gulf Cooperating Council (GCC) was the largest export destination of members, with total exports to the region reaching Dh15.8 billion. Saudi Arabia accounted for 57 per cent of the total GCC exports carried out by 37 per cent of the total number of exporters during the month.
Kuwait emerged second to Saudi Arabia, with exports to the country touching Dh1.8 billion, representing growth of 23 per cent, month-on-month; and 10 per cent year-on-year, Dubai Chamber said in a statement.
Exports to Qatar, on the other hand, declined to Dh1.8 billion for a significant month-on-month drop of 37 per cent from previous month’s Dh2.9 billion. Year-on-year growth was also down at -6 per cent, from year ago value of Dh1.9 billion, as the Dubai Chamber’s estimates.
Elsewhere in the region, although at lower values of Dh1.1 billion and Dh721 million, respectively, exports of Dubai Chamber members to Oman and Bahrain posted corresponding significant month-on-month growth of 33 per cent and 32 per cent [respectively], and year-on-year growt of 11 per cent and 64 per cent [respectively].
Exports to non-GCC major destinations, meanwhile, totalled Dh7 billion, or 27 per cent of the overall total for the month.