Coming period to witness greater manufacturing, services activity: SCAD

ABU DHABI– The Statistic Centre Abu Dhabi, SCAD, has predicted that the coming period will witness further growth and prosperity in various areas, including in the sectors of commerce, manufacturing and services while stressing that Abu Dhabi’s import and export activities are key to its economic development.

SCAD confirmed an increase in the value of imports during the third quarter of 2017 by 7.5 percent, compared to the same period in 2016, while the value of import units during the same period reported a record jump, from 103.4 percent to 111.8 percent.

The value of imports also increased during the third quarter of the current year by 8.1 percent, compared to the second quarter of the same year.

The value of exports increased during the third quarter of this year by 1.7 percent, compared to the third quarter of 2016, while reporting a record jump from 78.4 percent to 79.8 percent.

The value of imports, based on economic categories established in 2014, showed that key industries grew the most by 15.2 percent during the third quarter of this year, followed by transport equipment by 13.4 percent, and food and beverage by 5.9 percent. With regards to the value of exports, wood and related products grew the most by 175 percent during the same period, while transport equipment grew by 68 percent, machinery and recording equipment grew by 56 percent, and chemical and related industries grew by 11.5 percent.

The UAE has established a leading position as a developed country on the world trade map and has succeeded in maintaining its position as the most important market for exports and imports in the region. The country has also strengthened its role in global trade in recent years.

The nation’s leadership has prioritised the economic development of Abu Dhabi and the UAE in general and has established a working programme for local and federal government, to achieve greater progress and prosperity.

Source: Emirates News Agency