Kuwait's Nov. Trade Surplus With Japan Down 61.2 Pct

(MENAFN- Kuwait News Agency (KUNA)) TOKYO, Dec 17 (KUNA) -- Kuwait's trade surplus with Japan in November narrowed 61.2 percent from a year earlier to JPY 27.1 billion (USD 174 million), down for the first time in three months, due to slow exports, government data showed Wednesday.
However, Kuwait remained in black ink with Japan for 17 years and 10 months, as exports still outpaced imports in value, the Finance Ministry said in a preliminary report.
Overall Kuwaiti exports to Japan plunged 45.4 percent year-on-year to JPY 51.6 billion (USD 332 million) for the first decline in three months. Imports from Japan edged down 0.3 percent to JPY 24.5 billion (USD 157 million), the first drop in 12 months.
Middle East's trade surplus with Japan also narrowed 19.0 percent to JPY 389.6 billion (USD 2.5 billion) last month, with Japan-bound exports from the region sliding 10.4 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, plunged 9.9 percent. The region's overall imports from Japan fell 1.5 percent on weaker demand for automobiles and steel.
Japan's global trade balance returned to surplus for the first time in five months at 322.2 billion (USD 2.1 billion) in November. Exports rose 6.1 percent from the year before, thanks to robust sales of semiconductor, pharmaceutical products and non-ferrous metal. Imports grew 1.3 percent on higher bills of power generating machines.
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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