The latest Statistics released by Dubai World indicated a year on year 30 per cent increase in Dubai’s total direct trade in auto parts and accessories which were valued at Dh 18.2 billion in 2007. This was announced at the Automechanika Academy taking place with Automechanika Middle East, the region’s largest automotive aftermarket exhibition currently taking place at the Dubai International Convention & Exhibition Centre till June 3rd.
The total direct trade in auto parts and accessories in Dubai doubled in the five-year period 2003 to 2007 at a Compound Annual Growth Rate (CAGR) of 23 per cent. During the first quarter of 2008, direct trade in auto parts and accessories was Dh5.3 billion, an increase of 33 per cent from the first quarter of 2007.
In 2007 Dubai import of auto parts and accessories amounted to Dh11.1 billion, a 20 per cent increase from the previous year. Import doubled between 2003 and 2007. The import of auto parts and accessories CAGR was 20 per cent during 2003-2007.
In 2007 Dubai export of auto parts and accessories was Dh424.8 billion, a 13 per cent increase from the previous year. Export increased by 200 per cent between 2003 and 2007. The export of auto parts and accessories CAGR was about 32 per cent during the five years. Libya, Ukraine and Yemen are the top three export partners of Dubai for spare parts and accessories.
Dubai World statistics further showed a 54 percent of Dubai’s re-exports of spare parts and accessories consisting of general spare parts and accessories in 2007. Tires accounted for 25 percent of re-export.
Statistics showed that Iran, Iraq and Russia are the top three re-export partners for spare parts and accessories. Dubai re-exported about 41 per cent of spare parts and accessories to two countries: Iran and Iraq. Dubai’s top import partners of Auto Parts and Accessories are Japan, Germany and China. These are the top three import partners for spare parts and accessories. Dubai imported about 54 per cent of spare parts and accessories from these three countries, according to Dubai World statistics. –The Gulf Today
