Tuesday 16 January 2018
 
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29pc SURGE

Abu Dhabi aluminium, copper trade hits $3.5 billion

ABU DHABI, 6 days ago

Abu Dhabi trade in aluminium and copper amounted to Dh12.8 billion ($3.5 billion) in the first 10 months of 2017, a growth of 29.2 per cent from Dh9.9 billion during the corresponding period in 2016, a media report said.

The significant growth was catapulted by the momentum experienced at some platforms associated with the iron and aluminium industry in the emirate in particular and the UAE in general, reported Emirates news agency Wam, citing figures released recently by the Statistics Centre- Abu Dhabi.

Aluminium is one of the leading industries that has earned the emirate an eminent position across the Middle East region over the past years and tapped key export markets for the UAE all over the world.

During the period from January through October, the aluminium trade rose to Dh4.6 billion, an increase of 58.6 per cent from Dh2.9 billion during the same period in 2016.

The metal exports grew 82.4 per cent to Dh3.96 billion from Dh2.17 billion in October 201, while the imports declined to Dh560 million from Dh720 million in 2016, corroborating the fact that the emirate has turned to be a production hub rather than an importer of the strategic metal.

Aluminium re-exports hit Dh44 million from Dh20.6 million in 2016.

In the meantime, the copper exports neared Dh2.1 billion in October 2017 against Dh2 billion in 2016, while the imports hit Dh6.2 billion in October from Dh5 billion in 2016 with re-exports standing at Dh2 million.

The Abu Dhabi trade in aluminium and copper accounted for 9.5 per cent of the emirate's non-oil commodity trade during the first 10 months of 2017, which totalled as per official figures Dh133.8 billion by the end of October.




Tags: abu dhabi | aluminium |

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