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Abu Dhabi foreign trade hits $9.8bn
Abu Dhabi’s foreign trade hit 36 billion dirhams ($9.8 billion) in the first half of 2007, up 45% on the same period in 2006, the emirate’s Department of Planning and Economy (DPE) said on Wednesday.
Foreign trade had reached 25 billion dirhams in the first half of 2006, according to a DPE report carried by state news agency Wam.
The DPE said non-oil exports grew by 18.7% to reach 3 billion dirhams, an increase from the 2 billion dirhams generated in the first half of 2006.
Imports into Abu Dhabi represented almost half of all foreign trade, and were valued at almost 31 billion dirhams for the period compared to 21 billion dirhams in the first half of 2006.
The DPE said Abu Dhabi’s urban development and economic growth had increased the activity of trade.
"Proximity to the markets of East Asia, trade facilitation, trade laws and regulations in force in the UAE have increased the activity of trade… Abu Dhabi is still dependent mainly on commodity imports to meet a large proportion of demand for goods,” the report said.
Machinery was the major commodity imported for the period, totalling almost 32.8% of total imports, an increase by 81.3% compared to 2006 figures. Machinery imports generated 10 billion dirhams in value, the report said.
Vehicles were the second highest imported commodity for the period, followed by base metals and articles.
Saudi Arabia was the biggest importer of goods from Abu Dhabi, comprising almost 15.1% of total imports at a value of 4.6 billion dirhams.
Germany ranked second on 11.1%, followed by the US on 10.3%.
The total value of non-oil exports was 2.7 billion dirhams compared to 2.29 billion dirhams in 2006, an 18.7% increase.
Plastics, rubber and related articles topped the list of non-oil exports, contributing to 45.4% of the total.
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