Foreign trade surges 37.5%

Abu Dhabi Department of Finance (DoF) announced that the emirate's total foreign trade for 2008 increased to Dh102.779 billion, posting a sharp growth of 37.5 per cent over Dh74bn in 2007.

The figures are for imports, exports and re-exports of non-oil products.

According to the report released by DoF for 2008, total value of imports for the full-year 2008 was Dh90.284bn, up 42.6 per cent, over Dh63bn in 2007.

Abu Dhabi also reported a significant increase in exports and re-exports last year, rising to Dh6.255bn and Dh6.240bn, respectively, from Dh5.805bn and Dh5.615bn in 2007.

Sheikh Mohammed bin Khalifa Al Nahyan, Chairman of DoF, said: "These remarkable milestones attained amidst the global financial crisis and unprecedented market conditions bear testimony to the forward-thinking, insightful, and inspiring economic strategy of Abu Dhabi Government."

He added: "DoF is committed to bolstering and optimising the role of Customs in facilitating foreign trade and generating more revenue as articulated in the key priorities of 2009-2013 Strategic Plan. Additionally, DoF is planning to launch new initiatives to upscale the role and boost performance of customs by installing state-of-the-art technologies and equipment and concluding agreements with international customs authorities for a faster, smoother and more transparent flow of people and goods to and fro Abu Dhabi."

Abu Dhabi 2008 foreign trade figures show Saudi Arabia topped other countries in imports figures, at Dh12.79bn, followed by Japan (Dh10.857bn), US (Dh9.146bn), Germany (Dh8.627bn). Oman topped re-exporting countries from UAE, accounting for Dh1.1bn followed by Qatar (Dh894 million).

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