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Abu Dhabi pearl, stones and gold trade on the rise

The total value of Abu Dhabi’s trade in pearls and precious stones and precious metals amounted to AED1.72 bn in January 2019 which is approximately equal to the value registered for the same month in 2018, according to the Statistics Centre- Abu Dhabi (SCAD).

The trade in pearls and precious stones accounted for 9 percent of the emirate’s non-oil trade in January, valued at AED19.2 bn.

Abu Dhabi and the UAE, in general, are famous in the region for pearl and stones trade, which is one of the traditional professions being practised by its citizens for more than 100 years.

Traders in the sector said that the pearl trade had witnessed great activity during the past years, and was in line with the development witnessed by the country in the commercial and economic sector, which was made possible through its policy of opening its economy to the world. The demand for these goods has been increasing constantly, both locally and internationally.

The value of Abu Dhabi’s exports of these goods stood at AED1.45 billion in January, which comprises 26.5 percent of the total non-oil exports of the emirate during the same month.

The value of re-exported pearls, precious stones and precious metals reached around AED16 million in January, out of AED4.28 bn worth of the total re-exporting trade of Abu Dhabi.

In the meantime, the imports of these good reached AED254 million, out of AED9.44 bn worth of the emirate’s total imports during the month.

Source: WAM

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