Japan machinery exports to GCC countries soared in 2011, rising 24.1% compared to the previous year, the Japanese External Trade Organisation (Jetro) has reported.
Gulf countries imported Japanese machinery worth a total of $3.47 billion in 2011, with significant growth seen in the demand for pumps, compressors, derrick cranes, and gas and steam turbines.
Imports of transport vehicles, such as trucks and busses, and parts and accessories for motor vehicles, also increased, while volumes of passenger vehicles dropped, due to production disruptions caused by the March 11, 2011 tsunami.
The United Arab Emirates was the largest market for machinery among the GCC countries, importing $1.65 billion worth of machinery, making UAE the 21st largest importer of Japanese machinery in the world.
Saudi Arabia was the 25th biggest market in the world for Japan, importing machinery to the tune of $1.23 billion.
Yet Gulf imports of Japan machinery were dwarfed by the volume bought by countries such as China ($39.2bn), USA ($30.1bn), South Korea ($13.0bn) and Taiwan ($9.1bn).
Overall trade between Japan and the GCC increased 32.5% in 2011 to $162.2bn, up from $122.4bn in 2010.
Much of the growth was due to Japan importing greater volumes of mineral fuels to generate electricity as its use of nuclear fuel dropped, as well as the higher prices for oil and gas.
Japan’s importing of aluminum from the UAE also contributed to higher trade volumes, after rising 64.8% in 2011, from $329.8m in 2010 to $543.5m last year.
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