Abu Dhabi’s non-oil exports and re-exports for three-month period from June to August hit AED32.8 billion ($8.92 billion) up 62.5 per cent compared to AED20.2 billion ($5.4 billion) recorded between March and May this year, said the latest report issued by Abu Dhabi Department of Economic Development.
The recently released report reveals the emirate’s exports and re-exports of non-oil goods amid the coronavirus pandemic, particularly between March and August 2020.
Chairman Mohammed Ali Al Shorafa said: "The recent results showcase the growth in Abu Dhabi’s non-oil exports and re-exports despite the global repercussions of the COVID-19 pandemic, which led to the current economic crisis that has negatively affected all countries."
Al Shorafa attributed the growth to the UAE capital’s economic and trade relations with countries in the Middle East and around the world.
These well-established ties demonstrate the confidence of the global community in and the rising demand for Abu Dhabi’s non-oil products. He added that the latest numbers have proved the regional and global competitiveness of local goods, he stated.
The ADDED Chairman also reaffirmed the government’s commitment to help sustain the performance of the private companies that benefited from its economic stimulus package that was issued earlier for businesses affected by the crisis.
It has also been proactive in implementing precautionary measures to ensure business continuity in the emirate and ease the impact of the global pandemic on the private sector, he added.
Rashed Abdul Karim Al Balooshi, Under-Secretary of ADDED, highlighted the vital role of the department and its government partners in increasing the local non-oil exports and re-exports.
Key initiatives and programmes have been launched to increase the share of non-oil sectors in Abu Dhabi’s GDP and bolster the emirate’s sustainable economic development.
"The report’s positive results confirm that the concerted efforts made by different government entities and departments, in line with the Abu Dhabi Government’s vision and directives, have been effective. The emirate has solidified its leading position as one of the top regional and international commercial hubs," stated Al Balooshi.
According to ADDED’s report, Saudi Arabia was the number one destination of Abu Dhabi’s non-oil goods between March and August 2020, with a total value amounting to AED15.3 billion followed by Switzerland, Hong Kong, China and Kuwait.
The non-oil exports and re-exports to these countries constituted 65.4 percent of the emirate’s total exports from March until May.
Meanwhile, Saudi Arabia, Hong Kong, Italy, Switzerland and Singapore accounted for 67.8 percent of the total non-oil exports and re-exports recorded between June and August 2020.
Industry supplies, transport equipment, parts and accessories; and food and beverage, F&B, products accounted for 88.7 percent of the total non-oil exports and re-exports from June to August 2020. Between March and May this year, the share of three economic categories stood at 83.2 percent, stated the ADDED data.
Pearl products, precious and semi-precious stones, and imitation jewellery; equipment for vehicles, airplanes, ships and similar means of transportation; metals and their related products accounted for 67 percent of the total non-oil exported and re-exported goods from June to August 2020.