May 09 2012 |
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Oman-Japan trade increases
Muscat: A moderate increase in the value of trade between Japan and the Sultanate of Oman was registered in 2011, in spite of a considerable decrease in the volume of crude oil imports from that country. The increase in the value of trade was attributed to the rise in the average price of crude oils and also to an increase in the quantity and price of gaseous hydrocarbons imported from Oman. Japan's exports to Oman declined 9.91 per cent to $2.8 billion in 2011, compared to $3.1 billion in 2010.This decline in the trade value was driven by the fall in the export of motor vehicles, especially of passenger cars. Passenger car import declined by 25.82 per cent to $1.5 billion, from nearly $2 billion in the previous year. Considerable increases in exports were registered in general machinery, electrical machinery, iron and steel products and new tyres. Export of organic and inorganic chemicals, textile products etc. have also showed increases in exports.
Japan's crude oil imports from Oman decreased 30.44 per cen in quantity to 30 million barrels in 2011, compared to 43.1 million barrels in the previous year. The value of crude oil imports in 2011 was amounted to $3.2 billion. However, at the same time, the volume of liquefied natural gas imports rose by 34.64 per cent to 3.9 million tons, valued at $1.9 billion in 2011, compared to 2.9 million tons valued at $1.0 billion in the previous year.
Seafood - mostly frozen fish, molluscs and other aquatic vertebrates - has been Japan's second largest commodity of import from Oman, of which, the value of import surged 51.11 per cent to $12.9 million in 2011, compared to $8.4 million in the previous year. Oman had also been Japan's largest source of vegetables, mostly comprised of fresh or chilled beans.
Import of beans from Oman covered around 90 per cent of Japan's beans imports from over the world, which remained almost steady in 2011 at $5.1 million. Among other imports from Oman, a notable new item of import was iron and steel scraps valuing at $8.2 million. Japan's Import of aluminium from Oman showed a small recovery from the last year's slump, but still much short of figures for 2009, from which Japan started to import aluminium from Oman.
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