• September 25, 2016
    Last updated 4 minutes ago

automotives

Saudi Arabia’s aftermarket auto trade valued at $2.53b

Japan and South Korea featured predominantly as major source countries

Staff Report
17:26 September 16, 2016

JEDDAH, SAUDI ARABIA: Saudi Arabia’s auto aftermarket trade was valued at nearly $2.6 billion (Dh9.55 billion) in 2015, according to the kingdom’s General Authority for Statistics.

Saudi imported $2.53 billion worth of auto parts and accessories, passenger and commercial vehicle tyres, and batteries, while re-exports in the same year was worth $51 million.

Parts and accessories was the largest import product group, valued at $996.5 million, followed by passenger car tyres ($715.5 million), tyres for trucks and lorries ($615.3 million), and automotive batteries ($209.7 million).

Asian producers Japan and South Korea featured predominantly as major source countries, with 64 per cent of batteries coming from South Korea. Japan was the largest source country for passenger tyres (30 per cent of imports) while it also led the way in parts and accessories (24 per cent of imports), followed by South Korea (15 per cent) the USA (15 per cent), Germany (10 per cent), and France (7 per cent).

The inaugural edition of Automechanika Jeddah, in January, attracted more than 5,000 trade visitors, organisers said. They expect more at the second edition, to be held at Jeddah Centre for Forums and Events from January 31 to February 2 2017.

“The real business opportunities afforded to exhibitors at Automechanika Jeddah is underlined by the robust figures of auto parts trade in Saudi Arabia,” said Zahoor Siddique, Vice-President of Al-Harithy Company for Exhibitions (ACE), which orginases the event in conjunction with Messe Frankfurt Middle East.

“The figures of the Kingdom’s auto aftermarket trade in 2015 underscores the opportunities,” said Ahmad Pauwels, CEO of Messe Frankfurt Middle East.