Abu Dhabi-Saudi Arabia non-oil trade highest in March-August period: ADDED

By Rahul Vaimal, Associate Editor
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Abu Dhabi Department of Economic Development’s (ADDED) latest estimates revealed that Saudi Arabia is Abu Dhabi’s leading destination for non-oil goods between March and August this year. The trade amount between the kingdom and emirates is $4.16 billion (AED 15.3 billion).

Saudi Arabia ranked first in the list for non-oil goods. The other top four places were grabbed by Switzerland, Hong Kong, China and Kuwait, according to the latest official statistics. From March to May 2020, non-oil exports and re-exports to these four countries valued for 65.4 percent of overall exports from the Abu Dhabi.

Saudi Arabia, Hong Kong, Italy, Switzerland and Singapore valued for 67.8 percent of complete non-oil exports and re-exports reported from June to August 2020.

While the ADDED report did not give a breakdown of produce per country the news reports suggest that 88.7 percent of non-oil exports and re-exports from June to August 2020 is accounted by industry materials, transport equipment, parts and accessories, and food and beverage products. The share was 83.2 percent between March and May this year.

From June to August 2020, pearl products, precious and semi-precious stones and imitation jewelries, equipment for vehicles, aircraft, ships and similar means of transport and metals and their related products accounted for 67 percent of the overall non-oil goods transported and re-exported.

Altogether, Abu Dhabi’s overall non-exports and re-exports was recorded at $892 million (AED32.8 billion) between June and August 2020, which is a 62.5 percent hike from the $550 million (AED20.2 billion) reported between March and May this year, showed the statistics from ADDED.