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UAE, Japan trade surges 37.5% to $50.38b in 2011
Edited by : AL CIRCLE
4 min read
The UAE and Japan bilateral trade in 2011 continued to increase and it helped the former to improve its position among the top trading partners of Japan in the world from 11 to 9, according to the Japan External Trade Organisation, or Jetro.
Last year Japan’s trade with the UAE recorded a 37.58 per cent growth in the value of bilateral trade, in spite of the sluggishness in the world economy and the occurrence of earthquake, tsunami and a nuclear disaster in Japan.
In 2011, value of two-way trade jumped to to $50.38 billion, compared to $36.62 billion in 2010. Exports to the UAE grew by 1.82 per cent to $7.47 billion, while imports grew by 46.53 per cent to $42.91 billion in 2011.
The sizeable increase in the value of imports was mainly attributed to the surge in the price of crude oils that make the most of Japan’s imports from the UAE. The value of Japan’s world trade in 2011 stood at $1,678.97 billion, compared to $1,464.34 billion in 2010, an increase of 14.66 per cent.
Japan’s automobile exports to the UAE made a fast recovery through the third and fourth quarters of 2011 to exceed the levels of pre-tsunami period.
However, though motor vehicles remained to be the largest single commodity of exports to the UAE, on a year-on-year basis, the export value declined by just over nine per cent to $3.17 billion in 2011 against $3.49 billion in 2010.
Factors such as logistical problems caused by the East Japan Earthquake and the tsunami, and to a certain extent, the unprecedented floods in Thailand causing disruption in automobile parts supply to manufacturers, and finally, the consistent rise in the value of Japanese Yen were attributed to this slide in vehicle exports.
UAE was the 10th largest vehicles export market for Japan in 2011 covering 2.14 per cent of the total market coverage. The US remained to be the top market of Japanese vehicles, valuing at $41.42 billion in 2011. China remained at the distant second position in 2011 with a value of $15.50 billion worth of vehicle exports. Australia, Russia and Canada occupied the third, fourth and fifth positions. Export to the UAE of general machinery surged by 37.12 per cent to $1.65 billion in 2011 from $1.20 billion in 2010. This surge was attributed to the increase in demand for air pumps, derricks, ship cranes, turbines, other lifting equipments, work trucks etc. Export of electrical machinery declined by 10.08 per cent to $620.03 million amidst a mixed result of increases and decreases in exports of different electrical equipments.
While mineral fuels dominated Japan’s imports from the UAE, aluminium imports showed substantial increase. The value of Japan’s imports from the UAE surged 46.53 per cent to $42.91 billion in 2011, compared to $29.28 billion in 2010.
UAE’s share in Japan’s total imports rose to 5.02 per cent in 2011 from 4.22 per cent in 2010. More than 98 per cent of imports from the UAE were consisted of mineral fuels that include crude oils, gaseous hydrocarbons and other petroleum products.
UAE remained to be the 2nd largest supplier of crude oils to Japan after Saudi Arabia, covering 23.32 per cent of Japan’s total crude oil imports during the whole year.
Saudi Arabia at the same time maintained its position as the largest supplier of crude oil to Japan, supplying over 430 million barrels of crude oil in 2011, covering 33.01 per cent of Japan’s total crude oil imports.
Among Japan’s imports from the UAE other than fuel oils, aluminium held a major position. UAE has been a traditional source of semi-finished aluminium for Japan since many years, and in 2011 aluminium imports from the UAE surged considerably. Japan imported a total of 205.64 million kg of aluminium in 2011 at a cost of $2.64 per kg, compared to 139.24 million kg at a cost of $2.36 per kg in 2010.
Major other suppliers of aluminium, in the order of import value, were Australia, Russia, China, Brazil and New Zealand. South Africa, Indonesia, Canada and Argentina were also major suppliers of aluminium to Japan in 2011.
Japan’s import of precious stones and metals from the UAE increased 65.11 per cent to $24.83 million in 2011, out of which, diamond imports alone were valued at $21.67 million, an increase by 67.07 per cent.
Last year Japan’s trade with the UAE recorded a 37.58 per cent growth in the value of bilateral trade, in spite of the sluggishness in the world economy and the occurrence of earthquake, tsunami and a nuclear disaster in Japan.
In 2011, value of two-way trade jumped to to $50.38 billion, compared to $36.62 billion in 2010. Exports to the UAE grew by 1.82 per cent to $7.47 billion, while imports grew by 46.53 per cent to $42.91 billion in 2011.
The sizeable increase in the value of imports was mainly attributed to the surge in the price of crude oils that make the most of Japan’s imports from the UAE. The value of Japan’s world trade in 2011 stood at $1,678.97 billion, compared to $1,464.34 billion in 2010, an increase of 14.66 per cent.
Japan’s automobile exports to the UAE made a fast recovery through the third and fourth quarters of 2011 to exceed the levels of pre-tsunami period.
However, though motor vehicles remained to be the largest single commodity of exports to the UAE, on a year-on-year basis, the export value declined by just over nine per cent to $3.17 billion in 2011 against $3.49 billion in 2010.
Factors such as logistical problems caused by the East Japan Earthquake and the tsunami, and to a certain extent, the unprecedented floods in Thailand causing disruption in automobile parts supply to manufacturers, and finally, the consistent rise in the value of Japanese Yen were attributed to this slide in vehicle exports.
UAE was the 10th largest vehicles export market for Japan in 2011 covering 2.14 per cent of the total market coverage. The US remained to be the top market of Japanese vehicles, valuing at $41.42 billion in 2011. China remained at the distant second position in 2011 with a value of $15.50 billion worth of vehicle exports. Australia, Russia and Canada occupied the third, fourth and fifth positions. Export to the UAE of general machinery surged by 37.12 per cent to $1.65 billion in 2011 from $1.20 billion in 2010. This surge was attributed to the increase in demand for air pumps, derricks, ship cranes, turbines, other lifting equipments, work trucks etc. Export of electrical machinery declined by 10.08 per cent to $620.03 million amidst a mixed result of increases and decreases in exports of different electrical equipments.
While mineral fuels dominated Japan’s imports from the UAE, aluminium imports showed substantial increase. The value of Japan’s imports from the UAE surged 46.53 per cent to $42.91 billion in 2011, compared to $29.28 billion in 2010.
UAE’s share in Japan’s total imports rose to 5.02 per cent in 2011 from 4.22 per cent in 2010. More than 98 per cent of imports from the UAE were consisted of mineral fuels that include crude oils, gaseous hydrocarbons and other petroleum products.
UAE remained to be the 2nd largest supplier of crude oils to Japan after Saudi Arabia, covering 23.32 per cent of Japan’s total crude oil imports during the whole year.
Saudi Arabia at the same time maintained its position as the largest supplier of crude oil to Japan, supplying over 430 million barrels of crude oil in 2011, covering 33.01 per cent of Japan’s total crude oil imports.
Among Japan’s imports from the UAE other than fuel oils, aluminium held a major position. UAE has been a traditional source of semi-finished aluminium for Japan since many years, and in 2011 aluminium imports from the UAE surged considerably. Japan imported a total of 205.64 million kg of aluminium in 2011 at a cost of $2.64 per kg, compared to 139.24 million kg at a cost of $2.36 per kg in 2010.
Major other suppliers of aluminium, in the order of import value, were Australia, Russia, China, Brazil and New Zealand. South Africa, Indonesia, Canada and Argentina were also major suppliers of aluminium to Japan in 2011.
Japan’s import of precious stones and metals from the UAE increased 65.11 per cent to $24.83 million in 2011, out of which, diamond imports alone were valued at $21.67 million, an increase by 67.07 per cent.
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