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Abu Dhabi ports’ non-oil foreign trade valued Dhs66.5bn for first four months of 2020

Abu Dhabi ports’ non-oil foreign trade valued Dhs66.5bn for first four months of 2020

Re-exports fell 24.6 per cent year-on-year to Dhs13bn and non-oil exports by 8.5 per cent to Dhs18.3bn

Abu Dhabi Ports

Non-oil foreign trade through Abu Dhabi ports amounted to Dhs66.5bn in the first four months of 2020, down 7.3 per cent from Dhs71.7bn in the corresponding period last year.

It was a result of a 24.6 per cent year-on-year decrease in re-exports to Dhs13bn (from Dhs17.3bn) and an 8.5 per cent drop in non-oil exports to Dhs18.3bn (from Dhs20.1bn), reported news agency WAM.

However, imports increased 2.2 per cent during the same period.

The total trade decreased by 41.3 per cent in April 2020 compared to April 2019, owing to a decrease in re-exports (down 54.2 percent), non-oil exports (down 47.3 per cent) and imports (down 32.9 per cent).

Saudi Arabia was Abu Dhabi’s biggest trading partner in April, with bilateral trading reaching Dhs2.76bn, accounting for 23.9 per cent of the emirate’s total trade during the month.

Japan came in second at Dhs1.032bn, followed by the US at Dhs945m, China at Dhs926m and Congo at Dhs381m.

Industrial supplies topped the list of most exported non-oil goods with a value of around Dhs2bn in April, followed by F&B (Dhs564m) and consumer goods (Dhs151m), while the rest is spread across production goods, coal and lubricants.

In May, the Khalifa Industrial Zone Abu Dhabi (KIZAD), a subsidiary of Abu Dhabi Ports, announced a relief package that offered businesses a 25 per cent saving on renewal or new three-year registrations, a 20 per cent saving for two-year registrations and renewals and 15 per cent saving on one-year registrations.

Read: Khalifa Industrial Zone Abu Dhabi announces stimulus package for SMEs

In June, Abu Dhabi Ports established a new feeder services company, SAFEEN FEEDERS operated in partnership with Bengal Tiger Line (BTL) linking Abu Dhabi to ports serving the UAE, the wider Gulf region and the Indian subcontinent.

Read more: Abu Dhabi Ports launches new feeder service to boost trade

Last month, Abu Dhabi said that its non-oil foreign trade reached Dhs80.23bn over the first five months of 2020, with exports recorded at Dhs23.2bn, re-export at Dhs14.79bn, and imports at Dhs42.24bn.

Read also: Abu Dhabi records Dhs80.23bn non-oil foreign trade in first five months of 2020

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