UAE increases trade with Japan by 55%

13/10/2010 - Dubai Investment News
UAE increases trade with Japan by 55%

Posted by Bob Brunskill

Japan has revealed that its imports from the UAE increased by 55 per cent year-on-year during the first six months of 2010.

According to data from Japan's customs department, this growth was far higher than the 23 per cent increase in Japan's total world imports for the period.

In addition, it was noted that exports to the UAE likewise grew at a rate of 12 per cent year-on-year for the period.

Trade with the UAE therefore accounted for about 4.5 per cent of Japan's world imports and one per cent of exports.

The customs department noted that trade with the UAE has been dominated by large imports of oil.

Last week, it was revealed that the volume of gold traded through Dubai during the first six months of 2010 increased by 20 per cent on the same period last year, thereby reinforcing its position as a "hub" for gold trading.

According to the Dubai Multi Commodities Centre (DMCC), 608 tonnes of gold were traded through Dubai in the first half of the year with an overall value of $21.17 billion.

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