Abu Dhabi non-oil trade surges 24.2%

Abu Dhabi’s non-oil trade grew 24.2 per cent year-on-year in March on the back of higher imports of machinery and transport equipment as construction of oil and gas projects take momentum, latest statistics show. The value of non-oil merchandise trade in March 2012 totalled Dh13.52 billion, with imports valuing Dh10.79 billion, 79.8 per cent of the total. Non-oil exports were seen at Dh1.83 billion and re-exports at Dh0.90 billion, show the monthly data published by Statistics Centre-Abu Dhabi, or SCAD. According to the data, total non-oil merchandise trade surged 8.8 per cent month-to-month in March, resulting from an increase of 15.1 per cent in imports. However, re-exports valuing Dh320 million or 14.6 per cent dropped in the month, while non-oil exports remained largely unchanged. A year-on- year comparison shows, a growth of 24.2 per cent in total non-oil merchandise trade, with imports rising by 20.3 per cent, exports by 100 per cent, while the value of re-exports dropped 13.6 per cent. Imports in March rose largely due to an increase of 22.4 per cent in manufactured goods, classified chiefly by material and 7.6 per cent surge in machinery and transport equipment. SCAD also reported a 14.6 per cent drop in non-oil exports, due to a decline of 24.5 per cent in chemicals and related products. A comparison of year-on-year data for March 2012 indicates a rise of 20.3 per cent in imports, as Dh870 million worth 18.9 per cent more machinery and transport equipment was imported along with manufactured goods, classified chiefly by material, worth Dh640 million or 31.9 per cent. Non-oil exports rose by over 100 per cent, reflecting increases of Dh0.88 billion in chemicals and related products, and 49.2 per cent in manufactured goods, classified chiefly by material.  Re-exports dropped 13.6 per cent due to less re-export of machinery and transport equipment and miscellaneous manufactured items. The top countries of origin for imports were USA, South Korea and Saudi Arabia. These three countries accounted for 41.6 percent of Abu Dhabi’s total imports in March 2012.