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Abu Dhabi / WAM
Abu Dhabi’s trade in pearls, precious stones and metals totalled AED8.2 billion in the first half of 2019, highlighting the ongoing robust activity in this trade sector, which is the oldest in the UAE.
According to figures issued by the Statistics Centre-Abu Dhabi (SCAD), the trade-in pearls, precious stones and metals accounted for 7.8% of Abu Dhabi’s total non-oil commodities trade from January to the end of June this year, reaching a value of AED104.4 billion.
The continued activity of Abu Dhabi pearls trade reflects constant demand for this commodity, which is sought after by traders working in the sector, as well as individuals.
Abu Dhabi and the UAE in general usually rank among the leading countries in the pearl and gemstone trade, and pearl diving is one of the oldest traditional professions practiced by the Emirati people.
An audit conducted on this sector showed value of Abu Dhabi’s pearl and gemstone exports hit AED7bn during H1, accounting for 24.3% of emirate’s total exports, which amounted to around AED28.8bn.
SCAD also revealed that the emirate’s imports of this commodity reached AED845 million during the same period, accounting for 1.7 percent of its total imports.
Pearls, precious stones and precious metals that were re-exported from the start of the year to the end of June were valued at AED328 million, compared to AED136 million during the same period in 2018.