The United Arab Emirates accounted for 23.3 per cent of Japan’s trade with the Middle East countries during the first ten months of the current year.
Trade exchange between the UAE and Japan in the January-October period amounted to AED101.8 billion, down by a major 37.4 per cent compared with AED162bn in the same period last year.
Despite the major decline in the two-way trade, the UAE continues to remain Japan’s top trading partner in the Middle East, according to Japanese government figures published by Al Ittihad newspaper.
Furthermore, the UAE accounted for 35 per cent or AED26.1bn of Japanese exports to the Middle East, followed by Saudi Arabia, which accounted for AED20.3bn of Japanese exports.
Petroleum products make up more than 90 per cent of the UAE’s exports to Japan, while crude oil constitutes roughly 78 per cent.
In terms of quantity, the UAE is the second-largest supplier of crude oil to Japan after Saudi Arabia.
The UAE accounted for more than 30.9 per cent of the Middle East’s total exports to Japan during the first ten months of this year, amounting to AED244.6bn.