Iron, copper trade in Abu Dhabi soars 26% to Dh20.5 billion
Minerals account for 17% of total non-oil trade in Abu Dhabi
Dubai: The value of iron and copper trade in Abu Dhabi increased to Dh20.5 billion during the first nine months of 2018, posting a 26 per cent growth, compared to Dh16.3 billion during the same period of 2017.
According to the latest figures released by the Abu Dhabi Statistics Centre, the trade of iron and copper accounted for 17 per cent of the total non-oil trade of the emirate from January to September last year, which amounted to Dh122.2 billion.
The significant trade growth was supported by the high frequency of activity of all sectors related to the iron and copper industry in Abu Dhabi specifically and the UAE in general since the beginning of 2018.
The iron and copper industry is one of the most important industries in the emirate due to its association with a wide range of economic activities, mainly construction and real estate.
The value of Abu Dhabi’s iron and copper exports rose to Dh4.45 billion from January to September 2018, an increase of 37 per cent compared to Dh3.25 billion during the same period in 2017.
The value of re-exports of the same minerals reached Dh198 million by the end of September last year, a growth of 29 per cent, compared to Dh153 million in September 2017.
On the imports level, the value reached Dh15.9 billion from January to September 2018, an increase of 22.8 per cent, compared to Dh12.94 billion during the same period of 2017.
While the value of Abu Dhabi’s imports of iron stood at Dh10.1 billion by the end of September, imports of copper were pegged at Dh5.85 billion.