Trade in food and beverage between Africa and Dubai reach $13.9 billion in 5 years
Trade in food and beverage between Dubai and the African Continent from 2015 to 2020 reached $13.9 billion.
This is according to the Dubai Chamber of Commerce and Industry.
According to the Chamber, the value of food and beverage trade (excluding tobacco) between Dubai and Africa in 2020 alone amounted to $2.4 billion marking a growth rate of 18 percent compared to the previous year and the highest level since 2017.
The sector identified as a key factor expected to drive bilateral trade in the short-term the Chamber notes accounted for around 13% of the emirate’s total trade volume with the African Continent.
The analysis on food and beverage trade between the Continent and Dubai released by the Chamber is in the lead up to the 6th Global Business Forum Africa, organised by the Chamber in partnership with Expo 2020 Dubai.
The study highlighted Dubai-Africa food and beverage bilateral trade trends by region, as well as the potential avenues for future cooperation. In 2020, North Africa accounted for the largest share of Dubai-Africa food and beverage trade, reaching a value of $971.2 million, followed by East Africa ($828.3 million).
Southern Africa ranked third among Dubai’s largest food and beverage trading partners, with a total value of $362.9 million.
According UNCTAD data, Africa registered a negative trade balance of $20.1 billion in F&B products with the world, and this trend was most prevalent in North, Middle,
and Western Africa, indicating sizeable business opportunities in those regions.
The study concluded with a positive outlook for Dubai-Africa F&B bilateral trade, given Africa’s expanding urban F&B market, which offers vast opportunities for Dubai investors in warehousing and cold storage for agricultural outputs, farm equipment, transport, and repair services, among others.
GBF Africa 2021 will be organised at Dubai Exhibition Centre at Expo 2020 Dubai under the theme Transformation Through Trade, with the forum bringing government and business leaders from the UAE, Africa and other markets together to explore new prospects for economic cooperation and investment opportunities in promising African markets.
