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| Identifier: | 03ABUDHABI2299 |
|---|---|
| Wikileaks: | View 03ABUDHABI2299 at Wikileaks.org |
| Origin: | Embassy Abu Dhabi |
| Created: | 2003-05-11 14:04:00 |
| Classification: | UNCLASSIFIED//FOR OFFICIAL USE ONLY |
| Tags: | ECON ETRD TC |
| Redacted: | This cable was not redacted by Wikileaks. |
null
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
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