Kuwait's Nov. Trade Surplus With Japan Down 15.3 Pct

12/18/2024 2:07:57 AM

(MENAFN- Kuwait News Agency (KUNA)) TOKYO, Dec 18 (KUNA) -- Kuwait's trade surplus with Japan in November narrowed 15.3 percent from a year earlier to JPY 69.9 billion (USD 435 million), down for the third consecutive month due to slow exports, government data showed Wednesday.
However, Kuwait remained in black ink with Japan for 16 years and 10 months, as exports still outpaced imports in value, the Finance Ministry said in a preliminary report.
Overall Kuwaiti exports to Japan shrank 13.9 percent year-on-year to JPY 94.5 billion (USD 594 million) for the third straight month of decline, while imports from Japan also fell 9.8 percent to JPY 24.5 billion (USD 149 million), down for the first time in two months, it said.
Middle East's trade surplus with Japan also narrowed 45.5 percent to JPY 480.8 billion (USD 3.1 billion) last month, with Japan-bound exports from the region sliding 23.7 percent from a year earlier.
Crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which accounted for 93.8 percent of the region's total exports to Japan, plunged 25.0 percent. The region's overall imports from Japan surged 29.0 percent on robust demand for automobiles and machinery.
The world's third-biggest economy logged a global trade deficit in November for the fifth straight month at JPY 117.6 billion (USD 745 million), but its size plummeted 85.5 percent from a year earlier.
Exports rose 3.8 percent from the year before, buoyed by sales of semiconductor production equipment, non-ferrous metal and food. Exports marked the largest amount for the month of November since comparable data became available in 1979.
Imports dropped 3.8 percent on lower bills of crude oil, electronics parts and coal. 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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