Business | Economy
German exports to UAE reach 5.4b euros in 2oo6
German exports to the UAE in 2006 reached 5.4 billion euros, representing 25 per cent of its exports to all Arab countries.
- Staff Report
- Published: 00:15 February 7, 2008
Dubai: German exports to the UAE in 2006 reached 5.4 billion euros, representing 25 per cent of its exports to all Arab countries.
During the same period, UAE exports to Germany rose 25.7 per cent over 2005, reaching 469.3 million euros.
Last year, German exports to the Emirates reached 4.88 billion euros until October. Imports from the UAE reached 336.8 million euros during the same period.
Meanwhile, German woodworking exports to the Middle East crossed the 106-million-euro mark during the first 10 months of 2007, following the industry's record success in 2006.
"Among the rapidly developing economies in the region, the UAE has emerged as the fastest growing market for German woodworking machinery (WwM), increasing its imports by 48 per cent to reach 7.7 million euros within the same period," a report said.
The increasing momentum of German WwM exports to the Middle East started in 2000, when a growth of four per cent was recorded. From 2001 to 2003, the industry expanded by nine per cent, and further grew by seven per cent from 2004 to 2005.
However, 2006 witnessed the largest jump in total value of regional exports, escalating the overall growth of the German WwM shipment to the Middle East to 55 per cent since 1996.
As a global technology leader in WwMs, latest market figures revealed that the German industry recorded a turnover of 3.4 billion euros and a market share of more than 26 per cent.
"The woodworking machinery industry in Germany has grown to become a vital business, which has facilitated the production of high-grade wood products being used in the world's most prestigious property developments," said Dominik Wolfschuetz, marketing manager, VDMA.
"As the representative of 90 per cent of Germany's machinery, systems and woodworking tools manufacturers, the German Woodworking Machinery Manufacturers' Association in VDMA is focused on enhancing business opportunities for industry players, which comprise 220 companies employing approximately 19,300 workers.
Through our participation at the Dubai Woodshow 2008, we are expecting to further enhance German WwM exports to high value markets such as the Middle East by building important partnerships with regional customers," he said.
In a bid to leverage the massive demand for WwM in the region, leading German woodworking organisation VDMA, along with the German Trade Commission, is currently participating at the Dubai Woodshow 2008, which opened on Tuesday at the Dubai Airport Expo.
Occupying the largest space at the event venue, the 1,100-square-metre German Pavilion features woodworking equipment and technologies from leading Germany-based woodworking machineries exporters.
As a primary destination for Germany's high-quality exports, the UAE purchased six million euros worth of German WwM in 2006, a figure more than double of its international exports in 2005, which was recorded at 2.8 million euros.
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