Report: UAE top export market for Japan in GCC 

(MENAFN - Emirates News Agency (WAM)) The UAE has retained its place as major export market for Japan among GCC states, with a share of 39.2 per cent of market in 2008, according to statistics released by Japan Trade Organisation (Jetro), Dubai.

A report of a local UAE daily shows that Japan's exports to UAE grew by 34 per cent, with export of transport equipment surging 40.6 per cent to 5.2 billion (Dh19bn).

About 78.5 per cent of Japan's exports to UAE were covered by machinery and equipment that include, in addition to transport machinery, general machinery and electrical machinery, says Emirates Business 24/7 in its report.

The UAE was Japan's largest market for self-propelled cranes, with an export growth of 91.4 per cent to 131.3 million in 2008 from 68.6m in 2007.

For electrical machinery, the country toped among Japan's markets for automatic circuit breakers, electric conductors and liquid transformers. The UAE also remained Japan's major markets for TV sets and digital video cameras.

Japan's imports from the UAE, grew by 43.7 per cent in 2008, to 46.4bn, compared to 32.3bn in 2007,says the report.

Figures shows that UAE, ranked as the second-largest supplier of crude oils to Japan, also ranked as the fifth-largest supplier of goods to Japan, after China, the US, Saudi Arabia and Australia.

Japan imported 369.2 million barrels of crude oils from the UAE in 2008, covering 25.1 per cent of Japan's total crude oil imports.

The UAE was Japan's fifth-largest supplier in the world of petroleum gases, with a value of 5.6bn, a surge by 57.8 per cent compared to the figures in 2007.