Japan External Trade Organization
[2] Changes in Trade Environment
[3] Developments in Trade with Japan
[2] Changes in Trade Environment
[3] Developments in Trade with Japan
Economic indicators (growth, inflation, exports, imports, balance) in Middle East and Africa
The economic growth rate in real term of the Middle East (including Egypt, Libya,
Malta, Cyprus, and Turkey, not including Israel) climbed to 4.5 percent in 1996 from the
3.8 percent of the previous year. This was due to accelerated growth in the oil producing
economies because of higher oil prices and increased export volumes. Further, Egypt has
been growing faster due to progress in economic reforms, while Turkey remains strong,
though the rate of growth has been slowing. These factors have all contributed to the
growth of the region.
As a result, exports reached US$188.5 billion in 1996 (up 12.2% from the previous year),
while imports grew to US$176.7 billion (up 12.1%).
[2] Changes in Trade Environment
Turkey initiated a customs union with the EU in January 1996 and strengthened trade relations with the EU. Egypt concluded a free trade agreement with Jordan and an agreement with the Republic of Korea on trade promotion and other matters in May 1996. Israel agreed to promote trade with Jordan in December 1996, and launched a free trade agreement with Canada, the Czech Republic and Slovakia in January 1997, and with Turkey in July 1997 to increase trade. In the Middle East itself, however, the peace negotiations between the Arabs and Israel have come to a deadlock, so the environment is not right for any major growth in economic and trade relations with neighboring countries.
[3] Developments in Trade with Japan
Trade between Japan and the Middle Eastern countries (excluding Egypt, Libya, and Cyprus, but including Turkey and Israel) grew in 1996 (MOF statistics) with Japanese exports rising to US$10,812 million (up 13.0% from the previous year) and imports reaching US$35,518 million (up 11.8%). Crude oil, which accounts for 74.4 percent of the imports, saw prices rise more than 10 percent, boosting imports 14.6 percent to US$26,410 million. On the other hand, exports rose due to the upturn in domestic consumption and investment engendered by the increase in oil revenues of the oil producing countries. In particular, the upward movement of the yen on the exchange markets, which had continued since 1991, reversed itself giving Japanese products restored price competitiveness and leading to an increase in exports of cars and other transportation machinery and general machinery.
[1] Trends in Trade
The economic growth rate in real term in Africa (excluding Egypt and Libya, but including the other North African countries) rose to 5.0 percent in 1996, significantly higher than the 2.9 percent of the previous year. This was due to the recovery in agricultural production, the rise in crude oil prices, and the stabilization of the political scene. As a result, exports reached US$108.5 billion in 1996 (up 10.4% from the previous year), while imports climbed to US$100.5 billion (up 2.7%).
[2] Changes in Trade Environment
The African countries are striving to pull themselves up from agricultural societies to newly industrialized economies. Opening up new overseas markets is therefore a major concern. Africa is forging close relations with Asia. In March 1997, Indian Ocean Rim Association for Regional Cooperation (IOR-ARC) was set up, expecting greater trade with Asia. Further, there have also been moves toward establishment of regional economic unions in the area. The East African Community (EAC), the Southern African Development Community (SADC), and the West African Economic and Monetary Union (UEMOA) have been building closer economic ties among their members.
[3] Developments in Trade with Japan
Regarding the trade between Japan and Africa (including Egypt, Libya, and other North African countries), Japan exported US$5,773 million worth of goods to the region (down 22.0% from the previous year), while imported US$4,991 million (up 7.8%). The drop in exports was due in large part to a decline in industrial products - which accounts for 98 percent of the total. In particular, in transportation machinery, there were declines in exports of small sized tankers (down 69.4%) and trucks (down 12.3%). Imports rose due to an increase in industrial products, accounting for 29 percent of the total, and food, accounting for 26 percent. In particular, there was major growth in primary products made of aluminum (up 9.4 fold) and maize (up 4.2 fold).
Economic indicators (growth, inflation, exports, imports, balance) in Middle East and Africa
This paper is online: http://www.jetro.go.jp/WHITEPAPER/Trade97/index.html
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