Abu Dhabi aluminium, copper trade grows by nearly 30% in 10M
Aluminium and copper trade in the UAE capital of Abu Dhabi reached $3.5bn (AED12.8bn) in the first 10 months of 2017
Aluminium and copper trade in the UAE capital of Abu Dhabi reached $3.5bn (AED12.8bn) in the first 10 months of 2017, it has been revealed.
The figure represented a 29.2% increase from $2.7bn (AED9.9bn) during the same period in 2016, UAE state news agency, WAM, reported, quoting data published by the Statistics Centre – Abu Dhabi.
From January to October 2017, aluminium trade reportedly grew to $1.3bn (AED4.6bn), a 58.6% increase from $790m (AED2.9bn) during the same period in 2016. Exports grew 82.4%, to $1.1bn (AED4bn) from $600m (AED2.2bn), while imports dropped to $152.5m (AED560m) from $196m (AED720m) in 2016.
Meanwhile, copper exports went up to almost $570m (AED2.1bn) in the first 10 months of 2017 from $540m (AED2bn) in 2016, while imports climbed to $1.7bn (AED6.2bn) from $1.4bn (AED5bn), with re-exports reaching $540,000 (AED2m).
According to WAM, the emirate’s trade in aluminium and copper accounted for 9.5% of its non-oil commodity trade during the first 10 months of 2017.