The value of imports to Abu Dhabi increased by 42.5 per cent last year, fuelled by more shipments of imported machinery, industrial equipment, and building materials, the Abu Dhabi Statistics Center said today. The rise was not matched by comparable increases in non-oil exports and re-exports, indicating that the emirate became more dependent on oil sales last year - despite moves to diversify the economy.
"The import/export ratio in the bulletin indicates that the growth of imports has not been paralleled by growth in exports at the same pace," the Center said. In 2008, the ratio of non-oil exports and re-exports to imports fell to 13.8 per cent, down from a high of 31.5 per cent in 2005. Non-oil exports and re-exports from the emirate expanded at a slower pace than import growth. Non-oil exports grew by 7.8 per cent while re-exports rose 11.1 per cent.
The total value of Abu Dhabi's foreign trade, which is composed of imports, non-oil exports, and re-exports, grew by 37.5 per cent to Dh102.78 billion (US$30bn). The GCC countries were the main recipients of Abu Dhabi's exports and re-exports receiving 45.4 per cent and 58 per cent respectively. email@example.com