DUBAI: Dubai’s trade for auto parts and accessories was valued at AED44.37 billion in 2014, a 10 per cent increase over the previous year, new figures released by Dubai Customs have revealed today.
Imports of the Emirate’s booming automotive aftermarket trade were valued at AED26 billion last year, while the value of exports and re-exports coming out of Dubai was AED18 billion.
Commenting on these figures, the Director of Dubai Customs, H.E. Ahmed Mahboob Musabih stated: “Dubai Customs has further enhanced automotive spare parts trade through an array of first-rate Customs facilitations and services provided to traders in this sector, enabling them to cater for the market needs without delay thanks to streamlined and speedy clearance procedures. This comes in line with the directives of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, in regard to diversifying the texture of national economy.
“Serving a pivotal role in automotive spare parts trade, Dubai acts as liaison between Asian, European and North American manufacturing countries and the consuming markets in the region.”
H.E. Ahmed Mahboob further noted, “The development achieved by Dubai in all fields, especially in transport infrastructure with advanced and world-class road networks, ports, and airports, is one of the basic factors that promote the Emirate’s ability to attract larger share of the world trade. Dubai is the destination of choice for trade exhibitions regionally and globally. And with Expo 2020 looming closer, everything is being set ready by putting in place sophisticated services and facilities to deliver to the world what would be the best mega exhibition experience in history,” H.E. Ahmed Mahboob added.
According to Dubai Customs, Japan (AED6.14 billion), South Korea (AED3.57 billion), China (AED3.31 billion), Germany (AED3.16 billion), and the USA (AED3.11 billion) were Dubai’s top country partners last year in terms of total auto parts trade.
Meanwhile, Saudi Arabia (AED2.37 billion), Iraq (1.08 billion), and Afghanistan (800 million) were the Emirate’s biggest export and re-export markets in 2014, accounting for a combined 23 per cent of Dubai’s exports and re-exports of auto parts, accessories, tyres, and engine components for the year.
Three major trading partners claimed 49% share of Dubai’s total automotive parts imports. Japan was the top destination from which Dubai’s car parts originated, claiming AED6.12 billion of the market. South Korea followed with Dh3.55 billion worth of imports. China was the third most important import source valued at AED3.23 billion.
The figures were announced to an audience of auto parts manufacturers, suppliers, fleet operators, and regulators at the Automechanika Academy’s Commercial Vehicles Conference, which took place on the side-lines of Automechanika Dubai 2015.
