Drop in Gulf - Japanese trade volume

Bilateral trade between Japan and the Gulf states went down by 23.2% last year in comparison to the $31.3 billion reached in 1997. This came in a press statement issued today by the Japanese foreign trade organization, Jetro, in Cairo. The statement added that this drop is related to low petroleum prices last year.

The statement addedd that the value of Japanese to the Gulf states increased to $9.8 billion during 1998, falling by 23.7%.