Identifier
Created
Classification
Origin
03ABUDHABI2299
2003-05-11 14:04:00
UNCLASSIFIED//FOR OFFICIAL USE ONLY
Embassy Abu Dhabi
Cable title:
ABU DHABI'S EXPORTS REMAIN A ONE-TRICK PONY
how-tonull Diana T Fritz 05/24/2007 04:17:47 PM From DB/Inbox: Search Results Cable Text: UNCLASSIFIED SIPDIS TELEGRAM May 11, 2003 To: No Action Addressee Action: Unknown From: AMEMBASSY ABU DHABI (ABU DHABI 2299 - ROUTINE) TAGS: ECON, ETRD Captions: None Subject: ABU DHABI'S EXPORTS REMAIN A ONE-TRICK PONY (OIL) Ref: None _________________________________________________________________ UNCLAS ABU DHABI 02299 SIPDIS CXABU: ACTION: ECON INFO: POL P/M AMB DCM Laser1: INFO: FCS DISSEMINATION: ECON CHARGE: PROG APPROVED: CDA: RAALBRIGHT DRAFTED: ECON: GARANA CLEARED: A/DCM: TEWILLIAMS VZCZCADI533 RR RUEHC RUCPDOC RUEHZM RUEHTU DE RUEHAD #2299 1311404 ZNR UUUUU ZZH R 111404Z MAY 03 FM AMEMBASSY ABU DHABI TO RUEHC/SECSTATE WASHDC 9903 RUCPDOC/USDOC WASHDC RUEHZM/GCC COLLECTIVE RUEHTU/AMEMBASSY TUNIS 0511
UNCLAS ABU DHABI 002299
SIPDIS
SENSITIVE
STATE FOR NEA/ARP, NEA/RA
AMEMBASSY TUNIS HOLD FOR FSI: OLIVER JOHN
USDOC FOR 4530/ITA/MAC/ONE/DGUGLIELMI,
4520/ITA/MAC/ONE/CLOUSTAUNAU,
4500/ITA/MAC/DAS/WILLIAMSON,
3131/CS/OIO/ANESA
E.O. 12958: N/A
TAGS: ECON ETRD TC
SUBJECT: ABU DHABI'S EXPORTS REMAIN A ONE-TRICK PONY
(OIL)
(SBU) According to official figures, Abu Dhabi exports
in the first quarter of 2003 totaled approximately 2
billion USD, less than 10% of which was non oil-
related. The Customs Department report shows that Abu
Dhabi's oil exports continue to be the main engine of
the economy, in sharp contrast to better diversified
Dubai, where non-oil exports heavily exceed petroleum
sector revenues. Total Abu Dhabi non-oil exports for
the quarter were 96 million USD and re-exports 107
million USD. [Although we would hope that these
figures are accurate, there is a tendency here to
assign exaggerated valuations to the latter.] High oil
prices in the first quarter of 2003 also resulted in
greater income for Abu Dhabi, which no doubt inflated
the difference in comparison to the non-oil sector,
but the difference with regard to Dubai still remains
stark.
Albright