The UAE provides 47.8% of Japan’s oil imports in October

The Natural Resources and Energy Agency, affiliated with the Japanese Ministry of Economy, Trade and Industry, said that Japan’s oil imports from the UAE amounted to 31.80 million barrels, representing 47.8% of total imports during the month of October 2024.

According to the data, during October, Japan imported about 66.53 million barrels of oil, of which the share of Arab oil was 97.8%, or 65.06 million barrels.

The volume of trade exchange between the UAE and Japan, during the first nine months of this year, amounted to 137 billion dirhams, a growth of 14.16%, compared to 120 billion dirhams, during the first nine months of 2023, according to data from the Japanese Ministry of Finance. The UAE’s exports to Japan, from January to September 2024, recorded about 98 billion dirhams, while imports amounted to about 37 billion dirhams, bringing the trade account surplus between the two countries to about 60 billion dirhams in the interest of the UAE.

The value of trade exchange between the two countries declined, last September, by 4.14% on an annual basis, reaching 14.10 billion dirhams, compared to 14.71 billion dirhams in September 2023, according to statistics from the Japanese Ministry of Finance, and the data indicated that the UAE’s exports to Japan declined. By 10.74% to 10.55 billion dirhams, compared to 11.82 billion dirhams in September. 2023, and the UAE’s imports from Japan increased by 22.83% to 3.55 billion dirhams, during September 2024, compared to 2.89 billion dirhams in September 2023, and the trade balance surplus in favor of the UAE amounted to about 6.88 billion dirhams during September 2024.