Exports to Eastern Africa grew by 2.4% in H1 2021 – Dubai Chamber
Exports to Eastern Africa by members of the Dubai Chamber grew by 2.4% in the first half of 2021.
Despite the recorded growth in the trade to Eastern Africa, the Chamber notes that the new trade figures represents an untapped potential of over $2.9 billion which is equivalent to 78% of the current export level.
According to the Chamber, it issued a total of 9,134 Certificates of Origin (COOs) for Eastern Africa-bound shipments from January to June 2021, with the certificates having a total declared value of $892 million (AED3.3 billion).
Releasing the figures ahead of the Global Business Forum Africa, which takes place from 13-14 October on the sidelines of Expo 2020 Dubai, Dubai Chamber said they show the investment potential of the 20 countries that make up the Eastern Africa region.
According to Dubai Chamber’s figures, the top five best-performing markets in the sub-region, Kenya, Uganda, Tanzania, Zambia and Burundi, added a cumulative USD78.6 million to its members’ exports in the first half of this year compared to a year ago.
The statistics also show that in 2011, Ethiopia dominated the Eastern Africa region with a 48% share in the total declared value, followed by Kenya at 14%, Tanzania at 9%, Djibouti with a share of 7%, and then Uganda at 6%.
Kenya, the Dubai Chamber notes, dominates the East African region both in size and untapped potential, with an estimated value of $573 million.
“Ethiopia is in second place with an untapped potential of $450 million and Tanzania third with a gap of $366 million. Other markets with high untapped export potential include Djibouti ($345 million), Somalia ($279 million), Mozambique ($148 million), Uganda ($140 million) and Zambia ($125 million),” remarked the Chamber.
In terms of products that have been identified as having a high untapped export potential for UAE exporters and re-exporters in Eastern Africa, the Dubai Chamber asserts there are significant gaps for cane and beet sugar, motor vehicles, iron and steel structures, jewellery, copper wire and rice, among others.
Touching on the upcoming Dubai Expo 2020, the Chamber noted that trade opportunities being availed by Eastern Africa Markets will be put under the spotlight at the Global Business Forum Africa (GBF Africa), to be held in Dubai next month under the theme ‘Transformation Through Trade.’
At the Expo, discussions to be made will include how African countries can work together to deliver on the promise of the African Continental Free Trade Area, models for innovative and sustainable trade, and the resilience of the continent’s emerging businesses.
