Two-way trade between Japan and the United Arab Emirates (UAE), Tokyo's top oil supplier, edged up 0.26 percent in the first six months of 2001, an official report said Tuesday October 16. Total trade in the first half of this year amounted to $8.307 billion, up from $8.286 billion do in the same period in 2000, the Japan External Trade Organization (JETRO) said.
"This improvement is against the backdrop of a 5.82 percent decline in Japan's total trade the world over during the first six months of 2001," JETRO said. "Due to a 10.86 percent decline in Japan's exports to the world, her trade surplus came down by more than 50 percent to $26.508 billion during the first half 2001," it added.
The value of exports from the UAE, which remains Japan's leading crude supplier, rose 1.16 percent to $7.084 billion in the first six months of 2001 from $7.003 billion the previous year. The UAE was also the third largest gas provider to Japan over the six-monthly period, cornering 13.4 percent of the market with imports to Tokyo increasing slightly to $1.243 billion.
"Since Japan's import of mineral fuels from the UAE constituted more than 85 percent of her bilateral trade with that country, the comparative stability in the price of crude oils in recent times had its say in keeping the Japan-UAE bilateral trade figures from fluctuating drastically," JETRO said.
Japan's exports to the UAE fell 4.65 percent to $1.223 billion from $1.283 billion in the first six months of 2000. Machinery and equipment, including household items, cars, buses and trucks accounted for most of the exports. — (AFP, Dubai)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com )