The prices of 14 major industrial products declined in the UAE during the first quarter

The prices of paper-making and paper products decreased by 10.1%.

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The Federal Competitiveness and Statistics Authority revealed that the price index of the main industrial products in the country, representing 14 groups, decreased during the first quarter of this year, compared to the first quarter of 2019.

The authority stated in a report issued yesterday on the "product price index in the UAE during the first quarter of 2020", that this decrease contributes to reducing the cost of the final product and increasing price competitiveness, as well as encouraging more producers to enter the market and raise the competitiveness of Emirati products in Abroad, and export support, what supports the national economy as a whole

It indicated that the prices of manufacturing industries in the UAE decreased by 4% during the first quarter of this year, compared to the same quarter of last year, and the prices of making paper and paper products decreased by 10.1%, in addition to a decrease in the prices of making coke and refined petroleum products by 11.4%. .

The authority added that the prices of manufacturing chemicals and chemical products also decreased by 13.4%, in addition to the decrease in the prices of manufacturing base metals by about 10%.

According to the report, prices for making electrical equipment decreased by 6.4%, while prices for manufacturing machinery and equipment decreased by 4%, in addition to a decrease in textile manufacturing prices by 5.2%, and prices for manufacturing motor vehicles, trailers and semi-trailers by 2.5%, in addition to a decline in the prices of Manufacture of basic pharmaceutical products and pharmaceuticals by 2%, and manufacture of beverages by 1.9%.

Also, the prices of a number of other products decreased by less than 1%, such as the manufacture of apparel and leather products, and the repair and installation of machinery and equipment.

On the other hand, the report revealed an increase in the prices of other products, including the manufacture of some formed metal products, excluding equipment and machinery, by 14.7%, and the manufacture of some transportation equipment by 7.2%.

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