UAE vehicle trade hits $18.7bn in 9 months

UAE vehicle trade hits $18.7bn in 9 months
UAE vehicle trade hits $18.7bn in 9 months

Thank you for reading the news about UAE vehicle trade hits $18.7bn in 9 months and now with the details

Jeddah - Yasmine El Tohamy - DUBAI: The UAE’s automotive trade amounted to AED 68.8 billion ($18.7bn) from January to September of 2020, official government data has shown.

Car and tractor re-exports reached AED 25.6 billion in the same period, while exports stood at AED 1.26 billion, according to figures from the Federal Competitiveness Statistics Centre.

Automobile imports hit AED 42 billion, which was attributed to household spending, according to the report.

The UAE has expressed ambitions to be a key re-export hub in the Gulf, state news agency WAM has indicated, especially as it focuses on developing its non-oil economy.

The country’s automotive trade accounted for 6.6 percent of the UAE’s non-oil trade in the same period.

These were the details of the news UAE vehicle trade hits $18.7bn in 9 months for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Barclays and BNP Paribas report bumper Q1 profits