Statistics Department highlights Dubai’s auto spare parts trade growth at Automechanika Middle East
Total trade for AED5.3 billion in First Quarter of 2008
As part of its committed and continuous efforts to establish strong relations and build effective links with the various economic sectors of Dubai and the UAE in general, Dubai World’s Statistics Department took an active part in Automechanika Middle East, the region’s biggest automobile trade fair held at Dubai International Convention and Exhibition Centre from June 1-3. The department, in a presentation, shed light on the tremendous growth of Dubai’s auto spare parts trade during 2003-2007, which has continued through the First Quarter of 2008.
Making the presentation, Ms. Nassim Al Mehairi, Acting Head of Statistics Department, highlighted the department’s latest studies in the sector, which showed 33 per cent increase in Dubai’s total direct trade in auto spare parts and accessories in the First Quarter of 2008 compared to that of the same period in 2007. According to the figures, total trade amounted to AED5.3 billion in Q1 of 2008 while it was AED3.9 billion in Q1, 2007. This includes import, export and re-exports.
“Our studies show a steady and very impressive growth for Dubai’s auto spare parts trade. It signals a continuing trend and points towards even bigger prospects in the future. Statistics Department is aware of the significance of these studies and its relevance to the market. We are keen to make the results of these studies available to the market and its players. This communication is vital as it helps everybody associated with the sector, including government departments, traders, businessmen, statisticians, academics and media, to understand the changing trends and make strategic plans. That is the prime reason for our participation in Automechanika Middle East,” Ms. Al Mehairi said.
The presentation provided a comprehensive picture of Dubai’s automobile spare parts trade between 2003 and 2007. The figures, released after detailed and careful studies of the market by Statistics Department’s experts, covered all areas of the trade.
According to the Statistics Department, automobile spare parts trading sector has recorded steady growth during 2003-2007. The annual total trade value rose from AED8 billion in 2003 to AED18.2 billion in 2007. The growth covered all areas of the trade, including imports, exports and re-exports.
The department’s study showed that export of auto spare parts and accessories between 2003 and 2007 recorded an increase of 200 per cent in terms of value. Dubai exported AED141.7 million worth of spare parts and accessories in 2003. It rose to AED424.8 million in 2007, according to the figures. This is 13 per cent more than the amount in 2006.
Engine oil accounted for 55 per cent of the total spare parts exports in 2007, followed by engine parts (22 percent). Libya, the UK and Yemen were the top export partners in 2007 with 7 per cent each of the total value.
The figures also showed that import of spare parts and accessories grew from AED5.3 billion in 2003 to AED11.1 billion in 2007. Engine parts accounted for 49 per cent of total spare parts imports last year, followed by tyres (23 per cent). Japan (24 per cent), Germany (16 per cent) and China (14 per cent) were Dubai’s leading import partners for the sector in 2007.
Re-exports of spares and accessories also recorded very impressive growth during 2003-2007, the studies showed. From AED2.6 billion in 2003 it rose to AED6.7 billion in 2007, which is an increase of 163 per cent. Engine parts (55 per cent) and tyres (25 per cent) were the most re-exported materials. The leading partners in this area were Iran (32 per cent), Iraq (9 per cent) and Russia (5 per cent).
The department’s exclusive stand at the exhibition provided detailed statistical information on Dubai’s non-oil trade in 2007, including total volume and value of import, export and re-exports. The CD containing all particulars related to non-oil foreign was also on display. It includes up-to-date and accurate facts and figures based on information from a massive database prepared by the department.
