Kuwait's May Trade Surplus With Japan Down 52.7 Pct

(MENAFN- Kuwait News Agency (KUNA)) TOKYO, June 18 (KUNA) -- Kuwait's trade surplus with Japan narrowed 52.7 percent from a year earlier to JPY 39.2 billion (USD 252 million) in May, down for the fourth straight month due to slow exports, government data showed Wednesday.
However, Kuwait stayed in black ink with Japan for 17 years and four months, as exports still outpaced imports in value, the Finance Ministry said in a preliminary report. Overall exports from Kuwait to Japan fell 34.7 percent year-on-year to JPY 67.1 billion (USD 441 million), down for the fourth month in a row. Imports from Japan increased 39.3 percent to JPY 27.9 billion (USD 179 million), growing for the sixth consecutive month.
Middle East's trade surplus with Japan also narrowed 27.9 percent to JPY 600.2 billion (USD 4.1 billion) last month, with Japan-bound exports from the region sliding 18.5 percent from a year earlier in value terms. Crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which accounted for 93.6 percent of the region's total exports to Japan, plunged 19.0 percent.
The region's imports from Japan rose 10.4 percent on strong demand for automobiles and machinery.
The world's third-biggest economy logged a global trade deficit of JPY 637.6 billion (USD 4.4 billion) in May for the second consecutive month of red ink. Exports declined 1.7 percent from the year before, chiefly due to weak sales of automobiles, steel and mineral fuels. Imports also dropped 7.7 percent on lower bills for crude oil, coal, and nonferrous metals. 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)
mk

MENAFN18062025000071011013ID1109689587