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.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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