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ABU DHABI / WAM
The value of Abu Dhabi trading in precious metals and gemstone increased to AED5.42 billion within the first quarter of the current year 2020 with a rate of 34.4 percent compared to the same interval of 2019 estimated at AED4.03 billion according to Abu Dhabi General Administration of Customs.
Such increase in Abu Dhabi trading in precious metals and gemstone is backed by an increase in imports estimated at AED2.19 billion comparable to AED514.55 million in the same interval of 2019, the customs administration said in a statement on Monday.
Meanwhile, value of exports was estimated at AED3.10 billion and re-exporting estimated at AED131.08 million.
Abu Dhabi trading in precious metals and gemstone across emirate’s harbour, air and land ports reflects the soaring increase in economic activities witnessed by Abu Dhabi despite the current challenges the world is going through, the statement continued.
“Abu Dhabi General Administration of Customs cares for enhancing its efforts and performing its duties in serving the national economy and the society and facilitating trading movement throughout its customs centres,” it added.
Trading in precious metals gemstone represents one of the most important sectors supporting efforts for economic diversification and non-oil foreign trade promotion of Abu Dhabi.
The emirate of Abu Dhabi turned out to be the main centre for such kind of trading which is expected to witness remarkable growth and more demands within the coming interval what establishes the leading position of the UAE on the map of precious metals trading.