GCC, Japan trade grows in 2010

05 Jun 2011

(MENAFN) Japanese External Trade Organization’s (Jetro) managing director for Dubai and Mena, Hiroki Matsumoto, said that in 2010, his country’s trade with the GCC countries rose due to the increase in Japan’s exports as well as the surge in traditional commodities price, reported Khaleej Times.

Matsumoto added that the mutual trade between the two sides went up by 24.7 percent reaching USD122.4 billion in 2010 compared with USD98.2 billion in 2009, whereas exports rose by 14.4 percent to USD20.1 billion and imports grew by 26.9 percent reaching USD102.3 billion.

He also said that construction and real estate sectors in the GCC were to some extent slow, nevertheless, the demand for vehicles, articles of iron and steel, rubber, aluminum and chemicals was strong.

It is worth noting that the main imports for Japan from the GCC were oil and gas, forming 98.88 percent of the country’s imports from the GCC.

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