DUBAI: UAE ranked top among Gulf countries for aluminium supply to Japan in 2014 and also got the second position after Saudi Arabia for total trade with the Asian country.
Japan’s import of aluminium from GCC countries surged by 44.77 per cent to $1.1 billion in 2014 compared to $756.88 million in the previous year.
Most of the additional supply came from the UAE, from where imports grew by 41.37 per cent in 2014. The UAE was the fourth-largest supplier in the world with a share of 8.28 per cent of Japan’s total aluminium imports.
The value of Japan’s bilateral trade with GCC countries contracted 3.82 per cent in 2014 to $164.76 billion, compared to $171.31 billion in 2013.
The decline was mainly attributed to an estimated 4.28 per cent average fall in the price of crude oils that Japan imported from GCC countries in 2014. In addition to that depreciation in the value of Japanese yen again the US dollar, which was over eight per cent in average, has also reflected in the reduced value of bilateral trade.
Japan’s exports to the GCC countries showed a strong recovery in 2014 supported by increased demand for machinery and equipment, and iron and steel products.
Motor vehicle exports, covering almost 60 per cent of Japan’s total exports to the GCC, increased by 8.77 per cent to $14.79 billion, of which, passenger motor cars above 3000cc engine capacity rose the most, by 10.7 per cent, to $7.6 billion. GCC countries remained to be one of the top export markets for motor vehicles from Japan.
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