Exports, re-exports by Dubai Chambers’ members soar to over $77 bln in 2023

Dubai Chambers and the three chambers operating under its umbrella – Dubai Chamber of Commerce, Dubai International Chamber, and Dubai Chamber of Digital Economy – unveiled on Thursday an impressive set of results from 2023 that align closely with the objectives of the Dubai Economic Agenda (D33).

The chambers’ strategic priorities focus on enhancing Dubai’s favorable business environment, attracting foreign investments and international companies to the emirate, assisting member companies to expand abroad, and accelerating the growth of Dubai’s digital economy.

During the annual media briefing organized on Thursday at Dubai Chambers’ headquarters, it was revealed that 67,222 new companies joined as members of Dubai Chamber of Commerce in 2023. This is the highest number of new members during any year in the chamber’s history and represents year-over-year (YoY) growth of 20 percent. The number of active members of Dubai Chamber of Commerce also grew by 26.8 percent compared to 2022 to reach a total of 217,788, while the value of members’ exports and re-exports increased to over Dh 284 billion ($77 billion), with YoY growth of 4.3 percent.

Dubai International Chamber successfully attracted 138 overseas businesses to the emirate. These included 34 multinational companies (MNCs) – an increase of 580 percent compared to 2022 – and 104 small and medium-sized enterprises (SMEs), representing YoY growth of 550 percent. The chamber also supported the international expansion of 77 local companies, achieving a record annual growth rate of 756 percent, and increased its network of international representative offices to 31 with the launch of 16 new offices around the world in 2023.

Meanwhile, Dubai Chamber of Digital Economy continued to strengthen the emirate’s digital leadership by attracting nine MNCs operating in the digital industries to Dubai, together with 549 hi-tech startups to achieve an annual growth rate of 916 percent. The chamber also successfully hosted Expand North Star, a mega event for statups and investors, established a new platform to support and attract businesses to Dubai, oversaw the launch of the ‘Create Apps in Dubai’ initiative, and published six insightful reports on the emirate’s digital economy.

The annual media briefing event featured an interactive media Q&A session with the participation of Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers; Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications and Chairman of Dubai Chamber of Digital Economy; Sultan Ahmed bin Sulayem, Chairman of Dubai International Chamber; and Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers.

Commenting on the achievements, Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, said: “2023 has been another year of landmark achievements for Dubai Chambers in which we furthered our commitment to serving our members’ interests. The record growth in the number of new member companies is a testament to our success in enhancing the competitiveness of the business community. Supporting the private sector remains a key priority for Dubai Chambers as part of our drive to achieve the wise leadership’s vision to advance sustainable development and achieve the objectives of the Dubai Economic Agenda (D33).”

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, added: “Dubai Chambers has successfully achieved many of its strategic objectives, despite the global climate of economic uncertainty. We are committed to strengthening partnerships between the public and private sectors and driving economic growth while focusing on the interests of our members and businesses in Dubai. This year, we will continue to work closely with our partners to support the emirate’s dynamic business community through impactful initiatives, programs, and services.”