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Abu Dhabi’s foreign trade grows by 6.9% in 2012

Abu Dhabi’s foreign trade constituted 65.9 percent of the emirate’s total 2012 GDP

Published: Updated:

The value of Abu Dhabi’s foreign trade exceeded Dh600 billion ($163.3bn) in 2012, a 6.9 percent increase on the previous year, reported the state news agency WAM.

The UAE capital’s foreign trade constituted 65.9 percent of the emirate’s total GDP in 2012, with commodity exports amounting to over $130bn in 2012, up from 8.1 percent in 2011, added the news agency.

The data released in the Economic Report of the Emirate of Abu Dhabi for 2013, issued by the Studies Directorate of the Abu Dhabi Department of Economic Development, showed that oil exports made up $122.9bn, 93.7 percent of the total commodity exports, recording a growth of 6.9 percent from 2011.

The value of Abu Dhabi’s non-oil commodity exports exceeded $4.1bn in 2012, presenting a significant growth of 34.3 percent from 2011, according to the report data cited by WAM.

The emirate’s commodity imports rose to more than $32.3bn in 2012, compared to $31.6bn in 2011, the news agency added.

The trade balance of the UAE’s capital reached $98.7bn in 2012, compared to $89.5bn in 2011, registering an approximate 10.2 percent growth. The reason for this was mostly due to the major contribution of Abu Dhabi’s oil exports to the total exports of the emirate, reported WAM.