Abu Dhabi Foreign Trade Up 37.6% In 2011

Exports rose 38.5 per cent to Dhs416 billion, driven by a rise in oil prices.

The value of foreign trade in Abu Dhabi increased by 37.6 per cent in 2011 to reach Dhs532.9 billion, with total trade accounting for 66 per cent of the emirate’s GDP in 2011, reported official news agency WAM.

While exports during the year rose by 38.5 per cent to Dhs416 billion, imports increased by 34.4 per cent to Dhs116.4 billion.

The increase in the value of exports was mainly due to the surge in oil exports, which rose by 41.5 per cent to more than Dhs393 billion in 2011.

Abu Dhabi’s non-oil commodity exports amounted to Dhs11.5 billion in 2011, down one per cent compared to 2010, while re-exports rose around 5.2 per cent year-on-year to Dhs11.6 billion.

In terms of non-oil commodities, exports of industrial supplies rose 18.8 per cent to Dhs5.4 billion in 2011, while exports of capital goods amounted to Dhs4.8 billion. These two groups accounted for 89 per cent of the total value of non-oil exports in 2011.

Abu Dhabi’s trade surplus reached Dhs300 billion in 2011, up 40 per cent from Dhs214 billion in 2010.

“This was a natural outcome of the big boom in oil exports, as a result of the increase in oil prices in world markets,” said the report.