Friday , October 19 2018

Abu Dhabi’s aluminum, copper trade up 29.2%

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Abu Dhabi / WAM

Abu Dhabi’s trade in aluminum and copper amounted to AED12.8 billion in the first 10 months of 2017, a growth of 29.2 percent from AED9.9 billion during the corresponding period in 2016, as per figures released recently by the Statistics Centre— Abu Dhabi.
The significant growth was catapulted by the momentum experienced at some platforms associated with the iron and
aluminum industry in the emi-rate in particular and the UAE in general.
Aluminum 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 aluminum trade rose to AED4.6 billion, an increase of 58.6 percent from AED2.9 billion during the same period in 2016.
The metal exports grew 82.4 percent to AED3.96 billion from AED2.17 billion in October 2017, while the imports declined to AED560 million from AED720 million in 2016, corroborating the fact that the emirate has turned to be a production hub rather than an importer of the strategic metal. Aluminum re-exports reached AED44 million from AED20.6
million in 2016.
In the meantime, the copper exports neared AED2.1 billion in October 2017 against AED2 billion in 2016, while the imports hit AED6.2 billion in October from AED5 billion in 2016, with re-exports standing at AED2 million.
The Abu Dhabi trade in aluminum and copper accounted for 9.5 percent of the emirate’s non-oil commodity trade during the first 10 months of 2017, which totalled as per official
figures AED133.8 billion by the end of October.

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