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Trade Of Japan-UAE Grows 14.5% Due To Increased Price Of Crude Oil

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by - 10/4/2012 5712 Views

During the first half of the year 2012, increased price of crude oil increases the value of Japan’s bilateral trade with UAE by 14.5%.

 

Since the prices of crude oil increases by 11.75% the bilateral trade of UAE-Japan is increased by 14.5% to $27.2 billion during first half of the year 2012. Along with import of crude oil, Japan exports 71% of motor vehicles, 37% of machinery and 97% of iron & steel products to UAE to increase its trade value.

Now the average price of crude oil is raised to 77.65 compared with prices during the first half of the year 2012. Japan’s export of automobile, machinery and iron & steel increase its value by 45.93%. In the year 2008, the value of Japan’s export of motor vehicles reached a record of $2,245.50 million. Japan’s export value of public transport vehicles has grown by 116.5 per cent to $125.8 million. Japan’s export prices of general machinery to UAE increases by 37 per cent to $853.8 million and the value of iron and steel grows by $185.5 million to $366 million.

                                                            

Over 146 million barrels of crude oil with a value of $17.43 billion has imported to Japan during the year 2012. UAE is the 2nd largest supplier of crude oil covering 21.40% during 2012. Japan also imports crude oil from suppliers of Qatar, Kuwait, Iran, Russia, Indonesia and the Sultanate of Oman. Compared with Japan’s import during 2011, the bilateral trade has increased by 9.7 per cent to $22.61 billion during the year of 2012.

Category : General

Tags : Trade crude oil


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