A study released on Saturday by the Ministry of Foreign Trade has revealed the United Arab Emirates’ total exports of aluminium and its products rose by 102% (USD 1.5 billion) during the first half of 2012 in comparison with the same period in 2011.
The growth is a continuation of previous increases of 56 per cent and 42 per cent in 2010 and 2011 respectively. The study also revealed that UAE exports of aluminium products have achieved a competitive global edge and were capable of reaching 124 countries especially in Asia and Europe due to their production according to international standards and their high purity, as well as their widespread and intensive use in the automobile and aircraft manufacturing industry in the European Union.
The study, which was conducted by MoFT economic advisor Dr Abdul Hamid Radwan under the supervision of Director of MoFT’s Analysis and Trade Information Department Dr Mattar Ahmed, pointed out that the UAE came in first out of the Gulf Cooperation Council countries in terms of aluminium production and the accumulative investments and workforce it has in the sector.
It also revealed that the UAE came in the 34th position globally in its aluminium exports in 2011, advancing by seven places from the previous year. It however stated that this does not reflect the country’s international standing in terms of aluminium production, where it stands among the top ten countries in the world, exporting around 92 per cent of its domestic aluminium production.
India was the foremost receiving country of UAE aluminium exports in 2011, which were worth around USD 145 million, followed by Iran with USD 115 million.
Source:
http://www.steelguru.com/metals_news/UAE_exports_of_aluminium_grow_in_H1_up_by_102_percent/296894.html
