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Wed 10 Jan 2018 10:42 AM

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Abu Dhabi aluminum and copper trade reaches $3.4bn

The trade in the two metals accounts for 9.5% of the emirate's $36.3 billion non-oil commodities trade

Abu Dhabi aluminum and copper trade reaches $3.4bn
Abu Dhabi’s trade in aluminum and copper accounted for 9.5 percent of the emirate’s non-oil commodity trade, which totaled AED 133.8 billion ($36.3 billion) at the end of October.

Abu Dhabi’s trade in aluminum and copper reached AED 12.8 billion ($3.4 billion) in the first 10 months of 2017, a 29.2 percent growth over the same period the year before, according to data from the Statistics Centre – Abu Dhabi.

The centre’s statistics show Abu Dhabi’s trade in aluminum rose to AED 4.6 billion ($1.25 billion), up 58.6 percent from AED 2.9 billion ($789.5 million) during the same period in 2016. Additionally, aluminum re-exports reached AED 44 million ($11.9 billion), up from AED 20.6 million ($5.6 billion) in 2016.

Metal exports, for their part, rose 82.4 percent from AED 2.17 billion ($590.8 million) to AED 3.96 billion ($1.07 billion), while imports fell from AED 720 million ($196 million) to AED 560 million ($152 million), signaling the emirate has become a production hub rather than an importer.

Copper exports also went up from AED 2.1 billion ($571.7 million) to AED 2 billion ($544.5 million) during the same time period the year before, while imports also rose from AED 5 billion ($1.3 million) to AED 6.2 billion ($1.6 billion). Re-exports stood at AED 2 million, the statistics indicate.

Collectively, Abu Dhabi’s trade in aluminum and copper accounted for 9.5 percent of the emirate’s non-oil commodity trade, which totaled AED 133.8 billion ($36.3 billion) at the end of October.