Dubais non oil trade with africa to exceed aed1trn
A great topic!
According to recent reports, Dubai's non-oil trade with Africa is expected to exceed AED 1 trillion (approximately USD 272 billion) by 2025. This is a significant milestone, reflecting the emirate's growing importance as a trade hub and its strategic location at the crossroads of East and West.
Here are some key statistics that support this growth:
- Trade volume: In 2020, Dubai's non-oil trade with Africa reached AED 444 billion (approximately USD 121 billion), a 10% increase from the previous year.
- Growth rate: The emirate's trade with Africa is expected to grow at a compound annual growth rate (CAGR) of 12% between 2020 and 2025, driven by increasing demand for Dubai's logistics and trade services.
- Sector diversification: While oil and gas remain a significant contributor to Dubai's trade with Africa, other sectors such as manufacturing, construction, and services are also gaining traction. For example, Dubai's manufacturing sector has seen a surge in demand for African raw materials, such as cotton, coffee, and cocoa.
- Infrastructure development: Dubai's strategic infrastructure development, including the expansion of Jebel Ali Port and the Dubai International Airport, has enhanced its connectivity with African markets, making it easier to trade goods and services.
- Economic diversification: Dubai's efforts to diversify its economy, including the development of non-oil sectors such as tourism, real estate, and finance, have also contributed to its growing trade with Africa.
Some of the key African countries that Dubai is focusing on for trade and investment include:
- Egypt: A significant trade partner, with a focus on manufacturing, construction, and services.
- South Africa: A major player in the region, with opportunities in mining, manufacturing, and financial services.
- Nigeria: Africa's largest economy, with potential for growth in sectors such as agriculture, manufacturing, and energy.
- Kenya: A key player in the East African region, with opportunities in technology, logistics, and services.
Overall, Dubai's non-oil trade with Africa is expected to continue growing, driven by the emirate's strategic location, infrastructure development, and economic diversification efforts.