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Tue 19 Aug 2014 01:39 PM

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Japan-UAE trade up to $25bn in H1

UAE was Japan's fifth largest export destination of passenger motor cars in the world

Japan-UAE trade up to $25bn in H1

Value of bilateral trade between Japan and the UAE during the first six months of 2014 rose by 4.43 percent to $25.92bn.

The increase in trade is driven by expansions in both exports and imports to and from the UAE.

Japan's exports to the UAE surged by nearly 13 percent to $4.59bn, and imports by 2.76 percent to $21.34bn during the first six months of 2014.

Japan's H1 2014 trade deficit with the UAE remained nearly at the same level of H1 2013 at $16.7bn.

Motor vehicles (67.2 percent cars) remained the dominant commodity of Japan's exports to the UAE, covering more than half its total exports to the UAE. Export of motor vehicles rose by 11.36 percent during the first half of 2014 to $2.38bn.

UAE was Japan's 5th largest export destination of passenger motor cars in the world, after the US, China, Russia and Canada (Saudi Arabia ranked 7th and Oman 9th).

There was also noticeable increase in exports for general machinery, iron and steel products, optical and photographic products and non-alcoholic beverages.

Driven by an increase in the volume and price of crude oils that Japan imported from the UAE, the value of Japan's overall imports from the country rose by 2.76 percent during the first half of 2014 to $21.3bn.

A 28.8 percent increase in aluminium imports from the UAE had also contributed to the surge in trade value.

Mineral fuels covered 98.10% of the total imports and aluminium, 1.63%. The remainder consisted of copper scrap, precious stones and metals, animal feed and fabrics.

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