Kuwait's Trade Surplus with Japan Narrows 15th Month

Kuwait's trade surplus with Japan shrank 52.8% from a year earlier to JPY 25.2 billion (USD 248 million) in August, falling for the 15th month in a row reflecting weak exports, the Japanese Finance Ministry said Wednesday.

But Kuwait maintained monthly black ink with Japan for eight years and seven months, the ministry said in a preliminary report, carried by Kuwait News Agency (KUNA).

Kuwaiti overall exports to Japan plunged 40.7% year-on-year to JPY 40.2 billion (USD 396 million) for the 15th straight monthly drop, while imports from Japan rose 4.0% to JPY 15.0 billion (USD 148 million), for the first time in three months.

Middle East's trade surplus with Japan also narrowed by 35.1% to JPY 393.1 billion (USD 3.9 billion) last month, with Japan-bound exports tumbling 29.5% from a year earlier. Crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which accounted for 95.9% of the region's total exports to Japan, slid 29.8%. The region's overall imports from Japan declined 14.8%, as shipments of automobile, steel and electric equipment slowed. 

Source : QNA