Dubai World Statistics Department (DWSD) has announced that the automotive industry is fast becoming a mainstay of the UAE economy.
The organisation has been tracking growth in the sector and has noted that it is becoming an increasingly dominant player in the non-oil economy, with the spare parts trade alone growing 18.67 per cent in the 2007-08 period.
"Our careful statistical studies and systematic evaluation have clearly established the auto parts industry's enormous driving power and its role as a key player in the economy," said Saeed Alqaizi, director of group procurement, contracts, statistics and general administration at Dubai World.
The DWSD has been detailing the strength of the UAE automobile industry at Automechanika 2009 in Germany, which runs until tomorrow (June 2nd).
Last month, the organisation also released figures for external trade in Dubai over the course of 2008, with the non-oil sector recording growth of 38 per cent.