UAE's automotive trade, including cars, tractors and other vehicles, amounted to around AED68.8 billion ($18.73 billion) from January through September 2020, figures by the Federal Competitiveness and Statistics Centre (FCSC) have shown.
One of the largest automotive markets (including cars, parts and accessories, trailers and semi-trailers, trucks, public transport vehicles, tractors, other) in the GCC, UAE has over the past years proved to be a key re-export hub meeting the growing demand of all countries of the region, said a Wam news agency report.
Statistics indicated that car and tractor re-exports hit AED25.6 billion, while exports stood at AED1.26 billion in the reference period. The imports were valued at around AED42 billion driven by solid household spending, it said.
The impressive growth comes despite the economic slowdown triggered by the Covid-19 pandemic, with the country playing host to a large number of key global automotive firms.
According to official statistics, the UAE vehicle trade accounted for 6.6 per cent of UAE non-oil trade during the reference period.
One of the largest automotive markets (including cars, parts and accessories, trailers and semi-trailers, trucks, public transport vehicles, tractors, other) in the GCC, UAE has over the past years proved to be a key re-export hub meeting the growing demand of all countries of the region, said a Wam news agency report.
Statistics indicated that car and tractor re-exports hit AED25.6 billion, while exports stood at AED1.26 billion in the reference period. The imports were valued at around AED42 billion driven by solid household spending, it said.
The impressive growth comes despite the economic slowdown triggered by the Covid-19 pandemic, with the country playing host to a large number of key global automotive firms.
According to official statistics, the UAE vehicle trade accounted for 6.6 per cent of UAE non-oil trade during the reference period.
Source Link: www.tradearabia.com
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