Abu Dhabi non-oil foreign merchandise trade hits $18.1 bln in first 4 months of 2020

Abu Dhabi non-oil foreign merchandise trade hits $18.1 bln in first 4 months of 2020

Non-oil foreign merchandise trade transiting through Abu Dhabi’s ports in the first four months of 2020 hit 66.5 billion dirhams ($18.1 billion), the Statistics Centre – Abu Dhabi (SCAD) said on Monday, UAE state news agency WAM reported.

The figure represents a drop of 7.3 percent from 71.1 billion dirhams compared to 2019. The coronavirus pandemic hit the global economy particularly hard during the earlier part of the year, with trade slowing down in tandem.

SCAD also reported that re-exports dropped from 17.3 billion dirhams to 13 billion dirhams, a 24.6 percent decrease, while non-oil exports declined 8.5 percent to 18.3 billion dirhams from 20.1 billion dirhams. Imports, however, increased by 2.2 percent during the same period.

Saudi Arabia was named a key trade partner with Abu Dhabi in the report, with the two-way trade between the two countries valued at 15.95 billion dirhams.

Exports to the Kingdom from the emirate reached 7.18 billion dirhams during the first four months of 2020, while re-exports stood at 4.84 billion dirhams and imports were valued at 3.93 billion. Kuwait accounted for 2.47 billion dirhams, followed by Oman at 1.69 billion dirhams, and Bahrain, at 1.63 billion dirhams.

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