The value of Abu Dhabi’s non-oil exports to Saudi Arabia jumped to Dhs196.17 billion over the decade.
The value of Abu Dhabi non-oil foreign trade has reached Dhs80.23 billion through the emirate’s outlets during the first five months of 2020, the Abu Dhabi Customs has announced.
The value of non-oil foreign merchandise trade through Abu Dhabi ports totalled Dhs66.5 billion during first four months of 2020. The imports increased by 2.2 per cent in the same period, according to figures released by Statistics Centre - Abu Dhabi (SCAD), on Monday.
Saudi Arabia’s new Energy Minister, Prince Abdulaziz Bin Salman, said on Monday that oil production cuts would benefit all exporting nations. The minister signalled no major change in approach in Saudi Arabia.
Global shares stumbled on Friday as hopes of a fiscal boost from a $1.9 trillion US stimulus plan were smothered by the prospect of stricter lockdowns in France and Germany and a resurgence of COVID-19 cases in China.
The Italian government has approved a new stimulus package worth 32 billion euros ($38.8 billion) to prop up the battered economy, pushing this year’s budget deficit significantly higher than previously planned.
Pakistan and Bangladesh are rationing gas and buyers across South Asia are seeking alternative fuels after spot liquefied natural gas (LNG) prices surged to record highs, government and industry officials told Reuters.