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Japan's exports to Gulf increase 36% to $9.7b
The expanded activities of Japanese firms in the Gulf and the region's booming economy raised Japan's exports 36 per cent to $9.7 billion during the first six months of 2007, a report says.
- By Cleofe Maceda, Staff Reporter
- Published: 00:09 December 5, 2007
- UAE is biggest destination with a 35.2% share.
- Image Credit:
Dubai: The expanded activities of Japanese firms in the Gulf and the region's booming economy raised Japan's exports 36 per cent to $9.7 billion during the first six months of 2007, a report says.
The UAE secured $3.4 billion, or a 35.2 per cent share, of Japan's exports, the highest in the Gulf, followed closely by Saudi Arabia with $3.38 billion, or 35 per cent.
Oman came third with 11 per cent, followed by Qatar with 8.4 per cent, Kuwait 7.23 per cent and Bahrain 3.09 per cent.
According to the Japan External Trade Organisation (Jetro), the value of transport equipment exports to the Gulf climbed 19.85 per cent to $4.4 billion, while exports of general machinery more than doubled from $1 billion to $2.1 billion.
Increases in exports of textiles, rubber products, chemicals, precision instruments and non-monetary gold were also posted.
Yoshio Minagi, Jetro managing director, said the phenomenal growth in exports "reflects the expanded activities of Japanese companies in the Gulf.
"It is needless to say that the GCC is important for Japan, as Japan is heavily dependent on the GCC's energy sources such as crude oil and gaseous hydrocarbons. I believe that Japan's wider and competitive business with GCC countries will be for the benefit of both sides," Minagi said.
Trade between Japan and the UAE increased 4.3 per cent to $18.8 billion, while Japan's exports to the country, dominated by transport equipment and passenger cars, grew 20 per cent to $3.4 billion.
Japan's mineral fuel-dominated imports from the GCC crossed $44.6 billion in the first half of 2007.
Mineral fuel
Saudi Arabia remained Japan's top supplier of mineral fuels as it posted a 35.3 per cent share of the imports, followed by the UAE with 34.46 per cent and Qatar with 15.8 per cent.
Japan imported an average of three million barrels a day of crude oil from the Gulf , or over 559 million barrels in the first six months of 2007.
Japan's imports of liquefied natural gas and refined products increased, but the volume of liquefied petro-leum gas dropped.
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