Price drop leads Gulf-Japanese trade fall

A drop in the price of mineral fuels has been identified as the prime factor behind the 5.52% decline in Japan's trade with the Gulf States last - a trade that totalled US$43.95 billion last year.

Japan's oil imports dropped 9.15% to $34.9 billion because of the fluctuations in oil prices and other external factors.

Japan is one of the biggest importers of crude and other fuels from the Gulf region. It imported 98% of its mineral fuels from the GCC with Saudi Arabia being that the largest supplier with a 26.3% share. Other exporters were the UAE, Qatar, Kuwait, Oman and Bahrain.