Dubai — Trade between the UAE and Japan surged to $51.29 billion in 2014, according to the latest data released by Japan External Trade Organisation (Jetro) on Tuesday.
Japan’s exports to the UAE, which constitute 18.6 per cent of bilateral trade, grew by 12 per cent to $9.52 billion. At the same time, imports, which cover 81.4 per cent of total trade, grew by 1.75 per cent to $41.8 billion.
Due to the combined effect of the increase in exports and decrease in imports, Japan’s trade deficit with the UAE declined by 5.18 per cent to $32.26 billion. The total value of Japan’s imports from the UAE fell to $41.8 billion in 2014 from $42.5 billion in 2013. The UAE was Japan’s fifth largest supplier of goods, accounting for 5.1 per cent of the country’s total imports.
The UAE’s exports of aluminium to Japan rose by 41.4 per cent last year. On the other hand, Japan’s exports of motor vehicles continued its domination, with more than 50 per cent of total share of exports and reached nearly $5 billion in 2014.
Japan imported 326.5 million kg of aluminium from the UAE in 2014 valued at $730 million at a price of $2.2 per kg, in the place of 233.3 million kg worth $517 million at $2.2 per kg in 2013. The UAE was Japan’s largest supplier of aluminium among the GCC countries and the fourth largest supplier in the world, after Russia, Australia and China.
Among motor vehicles, export of passenger motor cars in the medium range rose by nearly 31 per cent to $762.8 million in 2014 from $582.7 million in the previous year.
Export of higher capacity luxury cars that cover more than 70 per cent of the passenger car segment, increased by 6.8 per cent to $2.397.6 million. Export of motor trucks in different capacities, however, declined by nearly 13 per cent to $689.6 million in 2014 from $791.9 million in 2013.
The UAE was Japan’s fifth largest passenger car market in the world, a two-point jump from last year’s seventh position, with a share of 3.83 per cent of the world market. The UAE was also Japan’s top motor vehicle market among the GCC countries, with a share of 32.7 per cent.
Mineral fuels formed 98 per cent of the value of Japan’s imports from the UAE in 2014, half a per cent less than the share in 2013. The remaining two per cent comprised semi-finished aluminium, scrap metals, precious stones and metals, animal feed, readymade garments, plastics, perfumes and cosmetics.
Events to be staged at the DWTC, comprising diverse sectors including construction, energy, technology, beauty, food, healthcare, environment and automotive, will mark the emirate’s post-pandemic economic recovery
Local business3 months ago