UAE Trade In Aluminum Hits AED8 Billion In Three Months

The UAE trade in aluminum amounted to around AED 8 billion during the first three months of 2019, according to statistics revealed by the Federal Competitiveness and Statistics Authority.

ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 29th Jan, 2020) The UAE trade in aluminum amounted to around AED 8 billion during the first three months of 2019, according to statistics revealed by the Federal Competitiveness and Statistics Authority.

The Emirates' trade in the metal hit a record of AED 6.5 bn during the reference period, a growth of 23 percent over the corresponding period in 2018. This accounts for 2 percent of the country's total non-oil trade during the first quarter of 2019, which stood at AED396 billion, corroborating the prestigious position enjoyed by the UAE across this industry.

The steady growth in this kind of trade corresponds to the rising demand on the metal locally and globally.

According to official statistics, the UAE's exports of aluminum surged to circa AED6.85 billion during Q1 last year, an increase of 28.5 percent from AED5.332 billion in the comparable period of 2018.

Imports amounted to AED981 million in the reference period against AED993 million in the same period of 2018, while re-exports were down to AED100 million from AED166 million in 2018.