Business | Economy
Japanese exports to UAE jump 75%
Japanese cars and transport equipment were among the main drivers behind a 75 per cent increase in the country's exports to the UAE, according to the Japan External Trade Organisation (Jetro).
- Staff Report
- Published: 00:02 August 10, 2008
Dubai: Japanese cars and transport equipment were among the main drivers behind a 75 per cent increase in the country's exports to the UAE, according to the Japan External Trade Organisation (Jetro).
The export of transport equipment surged by 44.58 per cent in 2007 to $3.7 billion. Export of general machinery rose by 26 per cent to $1.2 billion in 2007. Major items in this category included shovels, bulldozers, cranes, diesel engines, self-propelled trucks, pumps and compressors.
Export of electrical items went up 25.18 per cent to $1 billion. Major items in this category included televisions, monitors, telephone sets and audio-visual products. Total exports rose by 33.1 per cent to a record $8 billion in 2007. A dramatic increase in the demand for machinery and equipment in the UAE could be seen as a major reason, Jetro said in a report.
Mineral fuels
The UAE is Japan's eighth largest trading partner with mineral fuels, including crude oils and gaseous hydrocarbons, dominating Japan's imports from the UAE.
Japan imported 3.9 per cent less volume of crude from the UAE last year, which helped in reducing the impact of the rise in oil prices during the year.
Japan's total imports from the UAE, however, grew by 2.24 per cent to $32.3 billion, against $31.6 billion in 2006. This relatively low rate of growth was against the growth rates of 24.7 per cent and 38 per cent in 2006 and 2005 respectively.
Japan imported a total of 378.5 million barrels of crude from the UAE during 2007, against 393.7 million in 2006. The average price of crude imported from the UAE increased by 6.18 per cent to $69.63 per barrel in 2007 from $65.58 per barrel in 2006.
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