Dubai: Crude oil remained to be the dominant commodity of Japan's imports from the GCC countries, covering 74.4 per cent of the total mineral fuel imports in terms of value, according to the latest statistics from Japan External Trade Organisation (Jetro).
Including petroleum gases and other petroleum products, the share of mineral fuels reached 98.9 per cent of the total imports in 2013.
The value of Japan' crude oil imports from the GCC countries fell by 3.7 per cent to $111.5 billion (Dh409.2 billion) in 2013, from $115.8 billion in 2012. In terms of volume, Japan's crude oils imports from the GCC rose 0.05 per cent in 2013 to 1,018.8 million barrels, from 1,018.3 million barrels in 2012.
The main reason behind the decrease in the value of total trade is the decrease in the average price of crude oil imported from the GCC.
Saudi Arabia remained as Japan's top supplier of crude oil in 2013, with a value of $46.4 billion, and a share of 31.8 per cent of the total crude oil imports of Japan from over the world. The UAE was in second position with a value of $33.2 billion, and a share of 22.8 per cent. The GCC countries jointly supplied 76.5 per cent of Japan's total crude oil requirements in 2013.
GCC has also been a major source of hydrocarbon gases for Japan, and in 2013, Japan imported petroleum gases worth $29.7 million from the GCC countries. Qatar was the top supplier of gas to Japan, supplying $17 billion worth of petroleum gases, less than the value of its crude oil supplies to Japan. The different types of petroleum gases that Japan imported from the GCC were liquefied natural gas, liquefied propane gas and liquefied butane gas.