Complex Made Simple

UAE accounts for 30 per cent of Japan’s trade with Mideast

During the January-June period, trade exchange between the two countries slumped by 36.7 per cent

The United Arab Emirates accounted for 30.7 per cent of Japan’s trade with the countries of the Middle East in the first half of the current year, according to Japanese figures.

The UAE’s imports from Japan comprised 34.2 per cent of the latter’s total exports to the Middle East region, the data by the Japan External Trade Organisation (JETRO) reveals.

The UAE remains the top destination for Japanese exports to the Middle East region.

During the January-June period, trade exchange between the two countries slumped by 36.7 per cent to stand at $16.3 billion from $25.8bn in the same corresponding period last year.

The data published by Al-Ittihad shows that UAE exports to Japan, including oil, plummeted by 42.9 per cent to $12.1bn compared with $21.2bn in the same period last year.

Furthermore, the UAE’s imports from Japan retreated to $15.4bn from $16.5bn in the same period last year.

Trade balance is heavily in favour of the UAE with $16.8bn, the report indicates.

($1 = AED3.67, at the time of publishing)