United Arab Emirates

Food & Beverages

25-08-2020

Total Abu Dhabi foreign trade slumps by 41% in April

Total Abu Dhabi foreign trade

The value of non-oil foreign merchandise trade through Abu Dhabi ports decreased by 7.3 percent from AED71.7 billion ($19.5bn) during the first four months of 2019 to AED66.5bn ($18.1bn) in the same period of 2020.

This was the result of a 24.6 percent drop in re-exports from AED17.3bn to AED 13bn and an 8.5 percent decline in non-oil exports from AED20.1bn to AED18.3bn as the coronavirus pandemic impacted global trade.

Imports increased by 2.2 percent in the same period, according to figures released by Statistics Centre - Abu Dhabi (SCAD).

Total trade declined by 41.3 percent in April compared to the same month last year due to a drop in re-exports, non-oil exports and imports by 54.2 percent, 47.3 percent, and 32.9 percent respectively.

SCAD noted that Saudi Arabia continued to be the key trade partner of Abu Dhabi during the period, with the two-way trade value standing at AED15.95bn, accounting for 73.4 percent of the emirate's total trade with GCC states.

Abu Dhabi's exports to Saudi Arabia reached AED7.182bn during the period, with re-exports standing at AED4.844bn and imports at AED3.93bn. The total trade with Kuwait stood at AED2.47bn, followed by Oman (AED1.69bn) and Bahrain (AED1.63bn).