01 September 2015
MUSCAT: Bilateral trade between Japan and the United Arab Emirates showed a steep decline in trade value during the first half of this year, resulting from an equal fall in the price of crude oils and gaseous hydrocarbons that Japan imported from the UAE.
The value of two-way trade declined by 37.2 per cent to $16.28 billion during the first six months of 2015, compared to $25.92 billion during the same period in 2014.
As Japan's import of crude oils, gases and other petroleum products from the UAE constitute nearly 72 per cent of the total two-way trade, price fluctuations of these commodities greatly affect the size of trade value.
Currently, the UAE is Japan's second largest provider of crude oils, supplying 26.4 per cent of its total crude oil requirements during the first six months of 2015 hence this percentage raised the volume of imported crude oil by 5.9 per cent to 155.41 million barrels compared to 146.78 million barrels during the same period in the previous year.
Average price of the said imports from UAE fell by 47.2per cent to $58.94 per barrel, compared to last year's $111.66. On the other hand, Saudi Arabia remains to be Japan's top supplier of crude oils, with a share of 33.1 per cent.
In terms of petroleum gases, the UAE ranked fifth among Japan's top suppliers with a share of 7.2 per cent. Its price fell by 38.4 per cent to $564.93 per metric ton from $905.83. Qatar topped the list of gas suppliers with a share of 19.7 per cent followed by Australia (18.2 per cent), Malaysia (17 per cent) and Russia (8.1 per cent).
For Japan's aluminum imports from the UAE, an average of 11.8 per cent rise in the price of the commodity has been noted resulting from the increase of import volume by nearly 8 per cent in value to $375.27 million.
This marks a dropped down value of 3.1 per cent to 158.6 million kg, compared to 163.7 million kg from the last year's first half. At present, the UAE is Japan's fourth largest supplier of aluminum in the world and the top supplier among the GCC countries.
Japan also imported from the UAE other goods such as copper scraps, precious stones, metals and non-alcoholic beverages. Copper scrap imports decline by 34.2 per cent to $13.64 million while precious stones and metals increased by 42.1 per cent to $11.19 million. On the other hand, imports of non-alcoholic beverages showed an impressive increase registering an export value of $4.47 million from almost zero during the previous year.
Motor vehicles, general machinery and electrical machinery constitute the bulk of Japan's exports to the UAE. The depreciation of Japanese yen, by an average 16.9 per cent during the first six months of 2015, comparing with the same period of the previous year, seemed to have exceeded the effect of the nominal increases in the volume of exports of some commodities, resulting in the overall decline in the trade value.
Japan's current total exports to the UAE have been noted to be decreased by 9.4 per cent at $4,152.60 million compared to $4,584.83 million during the previous year's first half period.
Total exports of Japan to the UAE from 2013 upto this date remains competitive, making a stable value of not less than $4000 million. This year's first half period, trade of motor vehicles contributes 53.6 per cent of the total exports, valuing at $2,225 million, compared to last year's same period value of $2,377.10 thus posting a decline of 6.4 per cent.
Among these motor vehicles, export of passenger motor cars declined by 7 per cent to $1,485 .85 million during this year's first half, compared to $1,598.40 million during the same period in 2014. Export of motor trucks, at the same time registered an increase of 4.2 per cent to $326.86 million from $313.59 million.
MUSCAT: Bilateral trade between Japan and the United Arab Emirates showed a steep decline in trade value during the first half of this year, resulting from an equal fall in the price of crude oils and gaseous hydrocarbons that Japan imported from the UAE.
The value of two-way trade declined by 37.2 per cent to $16.28 billion during the first six months of 2015, compared to $25.92 billion during the same period in 2014.
As Japan's import of crude oils, gases and other petroleum products from the UAE constitute nearly 72 per cent of the total two-way trade, price fluctuations of these commodities greatly affect the size of trade value.
Currently, the UAE is Japan's second largest provider of crude oils, supplying 26.4 per cent of its total crude oil requirements during the first six months of 2015 hence this percentage raised the volume of imported crude oil by 5.9 per cent to 155.41 million barrels compared to 146.78 million barrels during the same period in the previous year.
Average price of the said imports from UAE fell by 47.2per cent to $58.94 per barrel, compared to last year's $111.66. On the other hand, Saudi Arabia remains to be Japan's top supplier of crude oils, with a share of 33.1 per cent.
In terms of petroleum gases, the UAE ranked fifth among Japan's top suppliers with a share of 7.2 per cent. Its price fell by 38.4 per cent to $564.93 per metric ton from $905.83. Qatar topped the list of gas suppliers with a share of 19.7 per cent followed by Australia (18.2 per cent), Malaysia (17 per cent) and Russia (8.1 per cent).
For Japan's aluminum imports from the UAE, an average of 11.8 per cent rise in the price of the commodity has been noted resulting from the increase of import volume by nearly 8 per cent in value to $375.27 million.
This marks a dropped down value of 3.1 per cent to 158.6 million kg, compared to 163.7 million kg from the last year's first half. At present, the UAE is Japan's fourth largest supplier of aluminum in the world and the top supplier among the GCC countries.
Japan also imported from the UAE other goods such as copper scraps, precious stones, metals and non-alcoholic beverages. Copper scrap imports decline by 34.2 per cent to $13.64 million while precious stones and metals increased by 42.1 per cent to $11.19 million. On the other hand, imports of non-alcoholic beverages showed an impressive increase registering an export value of $4.47 million from almost zero during the previous year.
Motor vehicles, general machinery and electrical machinery constitute the bulk of Japan's exports to the UAE. The depreciation of Japanese yen, by an average 16.9 per cent during the first six months of 2015, comparing with the same period of the previous year, seemed to have exceeded the effect of the nominal increases in the volume of exports of some commodities, resulting in the overall decline in the trade value.
Japan's current total exports to the UAE have been noted to be decreased by 9.4 per cent at $4,152.60 million compared to $4,584.83 million during the previous year's first half period.
Total exports of Japan to the UAE from 2013 upto this date remains competitive, making a stable value of not less than $4000 million. This year's first half period, trade of motor vehicles contributes 53.6 per cent of the total exports, valuing at $2,225 million, compared to last year's same period value of $2,377.10 thus posting a decline of 6.4 per cent.
Among these motor vehicles, export of passenger motor cars declined by 7 per cent to $1,485 .85 million during this year's first half, compared to $1,598.40 million during the same period in 2014. Export of motor trucks, at the same time registered an increase of 4.2 per cent to $326.86 million from $313.59 million.
© Times of Oman 2015
