Kuwait's June Trade Surplus With Japan Down 66.7 Pct

(MENAFN- Kuwait News Agency (KUNA)) TOKYO, July 17 (KUNA) -- Kuwait's trade surplus with Japan narrowed 66.7 percent from a year earlier to JPY 30.0 billion (USD 188 million) in June, down for the fifth consecutive month due to sluggish exports, government data showed on Thursday.
However, Kuwait stayed in black ink with Japan for 17 years and five months, as exports still offset imports in value terms, the Finance Ministry said in a preliminary report.
Overall exports from Kuwait to Japan plunged 45.2 percent year-on-year to JPY 63.4 billion (USD 404 million), down for the fifth straight month. Imports from Japan jumped 30.6 percent to JPY 33.3 billion (USD 209 million), up for the seventh month in a row.
Middle East's trade surplus with Japan also narrowed 40.8 percent to JPY 382.4 billion (USD 2.5 billion) last month, with Japan-bound exports from the region falling 21.2 percent from a year earlier in value.
Crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which accounted for 92.7 percent of the region's total exports to Japan, plummeted 23.2 percent.
The region's overall imports from Japan soared 17.6 percent on demand for automobiles and machinery.
Japan's global trade balance returned to surplus for the first time in three months at JPY 153.1 billion yen (USD 1.0 billion) in June, although the value declined 30.8 percent on the year, chiefly due to weak exports to the US and lower energy bills.
Exports slid 0.5 percent from the year before chiefly due to weak shipments of automobiles to the US amid higher tariffs.
Imports edged up 0.2 percent on pharmaceutical products, mobile phones and electronic semiconductor parts. 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

MENAFN17072025000071011013ID1109813283