Kuwait's Oct. Trade Surplus With Japan Down 65.7 Pct - Data

11/20/2024 2:08:59 AM

(MENAFN- Kuwait News Agency (KUNA)) TOKYO, Nov 20 (KUNA) -- Kuwait's trade surplus with Japan narrowed 65.7 percent from a year earlier to JPY 35.2 billion (USD 211 million) in October, down for the second straight month due to weak exports, government data showed Wednesday.
However, Kuwait remained in black ink with Japan for 16 years and nine months, as exports still offset imports in value, the Finance Ministry said in a preliminary report.
Overall Kuwaiti exports to Japan plunged 46.4 percent year-on-year to JPY 66.4 billion (USD 407 million), down for the second straight month, while imports from Japan jumped 46.6 percent to JPY 31.2 billion (USD 187 million), up for the first time in two months.
Middle East's trade surplus with Japan also narrowed 32.6 percent to JPY 567.9 billion (USD 3.6 billion) last month, with Japan-bound exports from the region shrinking 13.1 percent from a year earlier.
Crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which accounted for 94.2 percent of the region's total exports to Japan, slid 13.8 percent. The region's overall imports from Japan soared 35.4 percent, buoyed by shipments of automobiles and machinery.
The world's third-biggest economy logged a global trade deficit of JPY 461.2 billion (USD 2.9 billion) in October for the fourth consecutive month, but its size plummeted 34.4 percent from a year earlier.
Exports grew 3.1 percent from the year before, thanks to robust sales of semiconductor production equipment and pharmaceutical products, while imports edged up 0.4 percent although energy bills, especially crude oil and coal went down.
China remained Japan's biggest trade partner, followed by the US. The trade data are measured on a customs-cleared basis before adjustment for seasonal factors. (end)
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