Sun 29-04-2018 22:04 PM
ABU DHABI, 29th April, 2018 (WAM) — Abu Dhabi’s trade in tobacco and related products has plummeted by 97.2 percent during January 2018, as compared to the corresponding period in 2017, Statistics Centre – Abu Dhabi, SCAD, announced.
The drastic fall in the emirate’s trade in this category of commodities is considered the highest since the adoption of the excise tax last October, which includes a 100 percent price hike on tobacco, as well as other products that harm public health, averaging between 50 and 100 percent, notably soft and energy drinks.
Q4 2017 witnessed a 53.4 percent drop in the emirate’s tobacco trade against the corresponding period in 2016.
According to retailers surveyed by WAM, the actual drop in tobacco trade started during the Q4 2017 after large segments of society relinquished purchases following the significant rise in prices.
As per SCAD figures, the emirate’s trade in tobacco and related products stood at AED2.3 million only in January, down from AED84.5 million during the same month in 2017. However, the lion’s share of the trade was re-exports valued at AED2 million against 84.5 million in January 2017.
In addition, tobacco imports were down to AED33,000 in January from AED55,000 during the same month 2017.
The Centre, which monitors trade in the emirate, did not record any export activity for this category of goods in during January.
WAM/Hatem Mohamed/Hassan Bashir