US embassy cable - 03ABUDHABI2299

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ABU DHABI'S EXPORTS REMAIN A ONE-TRICK PONY (OIL)

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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