Dubai automotive parts trade valued at AED39.9bn in 2017

DUBAI / Emirates Business

Dubai’s trade for auto parts and accessories was valued at AED39.9 billion in 2017, a three percent increase over the previous year (AED38.7 billion), according to figures released by Dubai Customs on Wednesday.
Imports of tyres, batteries, engine components and systems into Dubai were valued at AED22.35 billion last year, while the value of exports and re-exports coming out of the emirate was AED17.54 billion.
The volume of trade in Dubai’s thriving automotive aftermarket has also increased year-on-year, with 2.25 million tonnes of tyres, batteries, engine components and systems shipped through the Emirate in 2017, 8.4 percent up on 2016.
The Dubai auto parts trade updates were announced to an audience of manufacturers, suppliers, fleet operators, and regulators at the Smart Commercial Vehicles Middle East Conference on the sidelines of the Automechanika Dubai 2018 exhibition.
According to Dubai Customs, Japan (AED5.63 billion), South Korea (AED3 billion), USA (AED2.94 billion), Germany (AED2.69 billion), and China (AED2.39 billion) were Dubai’s top country partners last year in terms of total auto parts trade.
Meanwhile, Saudi Arabia (AED2 billion), Afghanistan (1.34 billion), Iraq (AED1.1 billion) Oman (AED730 million), and Kuwait (AED580 million)
were the Emirate’s biggest export
and re-export markets in 2017, accounting for a combined 33 per cent of Dubai’s exports and re-exports of auto parts, accessories, tyres, and engine components for the year.
The five major trading partners comprised 69 percent of Dubai’s total automotive parts imports in 2017. Japan was the top destination from which Dubai’s car parts originated, claiming AED5.61 billion of the market and a 25 percent share of total imports.
South Korea followed with AED2.94 billion worth of exports to Dubai (13 percent share. USA (AED2.37 billion), Germany (AED2.29 billion), and China (AED2.17 billion) comprise the other three top exporters to Dubai.
Ahmed Mahboob Musabih, the Director of Dubai Customs, said: “Growth in this type of trade is a success to the emirate’s overall external trade. We support and sustain this growth following the wise directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai who always encourages economic diversification.”