UAE Ranks among Top Five Countries in Copper Cable Exports

•    Trade in Copper Cables offers UAE Trade Surplus of US$1 Billion
•    75% of Copper Cable Exports to GCC Countries
•    102% Growth Rate in 2012

Abu Dhabi-UAE: 01 October, 2014 – A new report issued by the Ministry of Economy places the UAE among the top five global exporters of copper cables. Copper cables form key industrial products whose exports contribute approximately US$1 billon to the UAE trade surplus. 

According to the Ministry of Economy, the value of the UAE's copper cable exports grew by 102% to reach US$1.325 billion in 2013. Meanwhile, the volume of exports rose by 119%, from 80,000 tons in 2012 to 174,000 tons last year. 

The report notes that Saudi Arabia is one of the major importers of copper cables from the UAE. The value of Saudi imports of copper cables registered US$835 million, amounting to 65% of the UAE's total export of the industrial product. The GCC countries collectively accounted for 75% of the UAE's copper cable exports. 

The UAE's imports of copper grew by 98% during 2013 compared to 2012, continuing the upward trend the product's imports have witnessed since 2009. The report additionally points out that the UAE's copper cable trade contributed to a trade surplus of US$923 million in 2013. The total value of imports registered US$397 million while exports reached US$1,325 million.

Spotlighting DUCAB as one of the most important UAE companies involved in the manufacture of copper products, including cables and wires, the report states that the company's production capacity exceeded 110,000 tons of high quality copper products that were exported to more than 20 countries worldwide. 

The report also reveals that globally copper exports registered a value of US$20.9 billion in 2013, growing at a rate of 4% compared to 2012. Russia acquired 14% of global copper cables, valued at US$2.941 billion, making it the world's biggest exporter. Germany took second place with 13% exports valued at US$2.718 billion. Belgium was placed third and the US fourth accounting for US$1.49 billion and US$1.330 billion respectively. 

The UAE, whose share of global copper cables exports stood at 6.3% worth US$1.325 billion, came in at fifth place.