Media ININ Economy We Trust
Abu Dhabi 17-09-2019
Abu Dhabi’s trade in pearls, precious stones and precious metals totaled AED 8.2 billion in the first half of 2019, a sign of continued activity in the UAE’s longest-running trade.
The pearl, precious stones and precious metals trade accounted for 7.8% of Abu Dhabi’s total non-oil commodity trade during the period from January to the end of June of this year, reaching 104.4 billion dirhams, according to figures from the Abu Dhabi Statistics Center.
The continued activity of Abu Dhabi’s pearl trade reflects the continued demand for this type of commodity, which is in high demand among the traders working in the sector or individuals, which gives a clear indication of higher trade rates in the coming period.
Abu Dhabi and the UAE are generally ranked among the world’s most renowned pearl and gemstones trading companies.
The audit shows that the value of Abu Dhabi’s exports of pearls and precious stones reached AED 7 billion during the first half of this year, accounting for 24.3% of the emirate’s total exports during the same monitoring period, which amounted to approximately AED 28.8 billion.
The emirate’s imports of this commodity reached AED 845 million during the first half of this year, constituting 1.7% of the total imports of Abu Dhabi, according to Statistics Center figures.
On the other hand, the re-export trade of pearls, precious stones and precious metals amounted to AED 328 million since the beginning of the year until the end of June, compared to AED 136 million for the same period in 2018.
