The UAE secures 35% of Japan’s oil needs in June

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Economy

Al Ain newsletter Agencies
Japan’s oil imports from the UAE reached 20.13 million barrels of crude oil during the month of June, according to data from the Energy and Natural Resources Agency of the Ministry of Economy, Trade and Industry of Japan.

A report issued by the Energy Agency stated that the percentage of oil imports from the UAE amounted to 35.1% of the total Japanese oil imports, noting that the amount of crude oil imported by Japan during that month amounted to 57.33 million barrels.

In May, Japan’s oil imports from the UAE amounted to 22.626 million barrels of crude oil.

The Energy Agency stated that the percentage of oil imports from the UAE amounted to 32% of the total Japanese oil imports in this month, noting that the amount of crude oil that Japan imported during that month amounted to 70.745 million barrels.

The total value of non-oil trade between the UAE and Japan reached 481.34 billion dirhams “130.8 billion dollars” during 10 years from “2009-2019”, according to statistics from the UAE Ministry of Economy.

The magnitude of the value of non-oil trade between the UAE and Japan indicates the development of trade and economic relations between the two countries.

While the UAE is among the top five oil exporters to Japan, Japanese investments in the UAE are concentrated in the sectors of technology, renewable energy, transportation, and health care.

These investments are also focused on wholesale and retail trade, polyethylene and polypropylene production, shipping, warehousing, and advanced technology services, oil and natural gas exploration, and information technology.

And the Japanese advanced investments and technology played a vital role in supporting the development process in the Emirates, there are more than 88 Japanese companies registered with the Ministry of Economy in the Emirates, about 209 agencies, and more than 11 thousand registered Japanese brands, while the number of valid memberships registered in the Abu Dhabi Chamber amounts to about 44 companies.

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