Abu Dhabi gems trade hits Dh6.2B

The total value of Abu Dhabi's trade in pearls, precious stones and precious metals hit Dh6.2 billion during the first seven months of this year, which is approximately equal to the value registered for 2016.

The trade in pearls and precious stones in the period between January and July represented around 42.7 per cent of the total value of its trade in these goods throughout 2016, which was Dh15.2 billion.

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 pearl trade 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 have been increasing constantly, both locally and internationally.

The value of Abu Dhabi's imports of these goods increased to Dh3.82 billion from January until the end of July, which equalled 5.3 per cent of the total imports of the emirate during the first seven months of this year, which was included in the non-oil goods trade report issued by the Statistics Centre - Abu Dhabi.

The value of re-exported pearls, precious stones and precious metals reached Dh2.2 billion, amounting to 17.3 per cent of Abu Dhabi's total re-exports, which reached Dh12.4 billion by the end of July.

Source: Khaleej Times