Higher oil prices raise UAE trade surplus

Published March 20th, 2001 - 02:00 GMT

The central bank of the United Arab Emirates reported that the country’s trade surplus at the end of 2000 equaled 41.75 billion dirhams ($19.9 billion), compared to Dh 16.23 billion at the end of 1999.  


The central bank attributed this growth in the trade surplus to rising crude oil exports, which hit Dh 70.1 billion in 2000—an increase of Dh 25 billion compared with 1999. 


The central bank indicated that the value of merchandise exports grew to Dh 32.9 billion in 2000, up from Dh 31.2 billion during the previous year. The exports of Jebel Ali Free Trade Zone expanded from Dh 15.9 billion to Dh 16.2 billion during the same period. — (Albawaba-MEBG)

© 2001 Mena Report (www.menareport.com)

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