Posted by Bob Brunskill
Vehicle imports in the UAE during early 2010 demonstrate signs of a market rebound and returning consumer confidence, the Dubai Chamber of Commerce & Industry has said.
New research by the body shows that vehicles form one of the largest product imports of the UAE, both for meeting local demand and for re-export, Gulf News reported.
It also observed that Japan dominates UAE's import market for the products, with imports from the country accounting for 39.3 per cent of the UAE's total auto imports in 2008.
The research revealed that while Japan's vehicle exports to the UAE declined by 20 per cent in January 2010, this was followed by a substantial monthly rebound growth of 71 per cent in March.
Germany's vehicle exports to the UAE, meanwhile, experienced an annual decline rate of 46 per cent in 2009, which was followed by rebound growths of 35 per cent and 30 per cent in February and March 2010, respectively.
Meanwhile, Dubai's Roads & Transport Authority recently confirmed the completion of the Dubai Bypass Road, which stretches from the environs of the emirate of Sharjah at Al Sajaa Interchange to the exit point from the emirate of Dubai into Abu Dhabi.