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FINANCIAL NEWS
GCC Jan-Sep exports to Japan surge by 40%
27 Nov 2011
(MENAFN) The Japan External Trade Organization (JETRO) said that in the January-September period, exports from the Gulf Cooperation Council (GCC) to Japan grew by around 40 percent from 2010’s USD74.5 billion to USD104.3 billion, reported Emirates 24/7.
JETRO added that the rise resulted from the surge in oil prices that increased exports of the GCC to the Asian country, however, during the same period, exports from Japan to the GCC countries fell from USD14.99 billion in last year’s same period to USD13.6 billion.
It also said that the main exporter from the Middle East to Japan was Saudi with exports value reaching USD36.93 billion, compared with USD26.2 billion in last year’s same period.
It is worth noting that the surge in exports from GCC increased the group’s trade surplus with Japan by around 50 percent from USD59.6 billion to USD89.5 billion.
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