Source: Khaleej Times
Abu Dhabi’s non-oil trade surged 35.4 per cent to Dh34.46 billion in the quarter ended June 30 due to strong imports of machinery and automobiles.
According to the Statistics Centre Abu Dhabi (SCAD), imports rose 20 per cent to Dh4.29 billion during the quarter while non-oil exports doubled to Dh4.31 billion.
Re-exports showed a 15.4 per cent growth to Dh390 million, during the quarter ended June 30. Imports contributed 74.3 per cent of total foreign trade during the second quarter of 2011, while non-oil exports 17.3 per cent and and re-exports had a minor role of 8.4 per cent.
Imports surged as machinery and transport equipment showed 44.8 per cent growth, as Abu Dhabi diversifies its economy and oil and gas industry is undergoing heavy expansion and redevelopment.
Finished goods imports also showed a substantial growth of 42.5 per cent or Dh2.01 billion in the same period.
Industrial supplies, which were 42.3 per cent of the imports, rose 57.8 per cent year-on-year to Dh3.97 billion.
Abu Dhabi’s 44.4 per cent imports were sourced from Asia during the second quarter, with the total value from these countries increasing by 17 per cent year-on-year or Dh1.66 billion.
Imports from Europe increased 21.9 per cent while from North America there was a decline of 7.3 per cent over the same period.
The top 10 countries contributed 69.3 per cent of imports in the quarter, compared with 68.3 per cent in the same period a year ago, showing a surge in their share.
Imports were doubled from South Korea and Australia, while there was 93.6 per cent from Italy, 89.5 per cent from China, the SCAD said. Imports from Saudi Arabia increased 27.9 per cent, or Dh730 million.
“These increases were partly offset by a decrease in imports from the USA and Japan by 7.4 per cent and 55.3 per cent respectively,” the statistics office said.
Abu Dhabi also showed a significant growth in non-oil exports during the period, growing 74.1 per cent in the quarter. The emirate exported offshore oil drilling platforms.