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03-08-10

Bilateral trade between UAE, Japan soars 47%

(MENAFN) The bilateral trade between the UAE and Japan surged 47 percent to $14.96 billion in the first five months of 2010 compared to $10.17 billion in the corresponding period of 2009,Khaleej Times reported. This rise is attributed to the higher value of oil imports and a resurgence in passenger cars exports by the Asian giant, statistics released by the Japan External Trade Organisation, or Jetro, revealed. The data showed that Japan?s imports from the UAE jumbed by 58.5 percent to $12 billion, while exports to the emirates rose 13.1 percent to $2.93 billion in the first five months of 2010. The total value of Japan?s trade with the GCC during the same period soared 54 per cent to $51.11 billion from $33.19 billion. Imports, including crude and aluminium, from the GCC rose by 61.7 percent to $42.98 billion in the first five-month period from $26.59 billion during the same period in 2009. Japan?s exports rose to $8.13 billion from $6.6 billion, mostly driven by revival of automobile exports. Japan?s imports from Saudi Arabia, its largest trading partner in the GCC, surged by 62.8 percent. The highest increase in imports is recorded by Bahrain that topped the list with an increase of 114 percent. Japan?s imports from Oman posted the second highest increase of 95 per ent. Japan?s exports to the GCC grew by 23.2 percent to $8.131 billion, supported by spectacular increases in the export of passenger motor cars, rubber and iron and steel products.

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