Dubai’s auto parts trade grew 8% to Dhs40bn during the year 2013 compared to Dhs37bn in 2012, Dubai Customs revealed.
Ahmed Abdul Salam Kazim, Director of Strategy and Corporate Excellence at Dubai Customs, said, “The scored growth reflects the rise of imports by 4% to Dhs23bn and an upswing in exports and re-exports by 13% to Dhs17bn.”
Statistics released by Dubai Customs, in parallel with Automechanika Dubai 2014 held on June 3-5, showed that Dubai serves a pivotal role in automotive spare parts trade, acting as liaison between Asian and European manufacturing countries and the consuming markets in the region.
Four major Dubai trading partners claimed 61% of the total imports with Dhs14bn worth of products. Japan was the top destination from which Dubai’s car parts originated, claiming Dhs5.7bn of the market.
South Korea followed with Dhs3.2bn worth of imports. China was the third most important import source valued at Dhs2.8bn. Germany was fourth with Dhs2.3bn.
Surrounding countries top the list of major export and re-export partners, with Saudi Arabia securing the largest share of the market at Dhs2.14bn. Iraq was the second partner with Dhs1.1bn. Afghanistan followed with Dhs836m. Oman came in fourth with Dhs560m. Together, these nations represented 27% of the export and re-export market with a total share of Dhs4.6bn.
“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,” said Ahmed Kazim.
Furthermore, Dubai Customs is committed to achieving highest levels of cooperation and coordination with public and private sector stakeholders in a bid to take the efficiency of delivered services to the next level.
Ahead of Expo 2020, such service improvements will be decisive in better positioning Dubai on the ever-changing global trade landscape.
Monday, June 2- 2014 @ 16:33 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.