Bahrain's imports from Japan top $932m
Manama, July 2, 2009
Bahrain's imports from Japan reached nearly $1 billion in 2008 at a time when exports to the country slipped.
Imports were valued at $932.2 million, a major jump from the previous year.
The value of general machinery imports more than doubled to $110.5 million last year, according to the latest figures released by the Japan External Trade Organisation.
Noted increases were recorded for marine rotary engines (55.7 per cent), 360-degrees revolving mechanical shovels (88.1 per cent), and parts for malt treatment machines and gas and diesel engines.
Among transport machinery, imports of road tractors for semi-trailers, and goods wagons jumped by 112.4 per cent and 40.8 per cent respectively.
Major increases were also recorded in the import of medium capacity and higher capacity cars.
The value of Bahrain's exports to Japan declined by 3.3 per cent to $415.7 million last year, compared to $430.1 million in 2007, mainly caused by reduced exports of commodities such as crude oil and semi-finished aluminium.
Crude oil exports to Japan fell by 78.6 per cent to $25.6 million last year, from $119.9 million in 2007.
Exports of unwrought aluminium fell by 20.6 per cent to $54.3 million from $68.4 million.
However, compensating the decline in the crude oil, exports of light oils and oil preparations from Bahrain increased by 27.1 per cent to $264.4 million last year, from $208 million in 2007.
Bahrain had also entered Japan's fuel market with an export of liquefied propane valued at $5.5 million last year.
This comes at a time when Japan's trade with the region has surged by 43.1 per cent $171.7 billion, against $120 billion in 2007.
Japan's exports to the GCC block increased by 28.4 per cent to $27.6 billion, and imports from the GCC by 46.3 per cent to $144.2 billion.
Though the steep increase in the price of crude oils during the first half of last year had a major impact on the trade value, the global economic slowdown of last year did not appear to have any effect on the bilateral trade.
The oil boom-backed economic expansion in the Gulf countries continued to support increased Japanese exports to these countries when the world was facing a financial crisis last year.
The expansionary trend in the bilateral trade continued until the end of the third quarter of last year, and it was only in the fourth quarter some symptoms of a slow down started to emerge in the Japan-GCC trade. – TradeArabia News Service