|20 November, 2019

Kuwaiti trade surplus with Japan shrinks 13.5% in October

Kuwait’s trade surplus with Japan declined to $381mln

Kuwait's Prime Minister Sheikh Jaber al-Mubarak al-Sabah (L) is welcomed by Japanese Prime Minister Shinzo Abe at the start of their talks at Abe's official residence in Tokyo, Japan, May 12, 2016.

Kuwait's Prime Minister Sheikh Jaber al-Mubarak al-Sabah (L) is welcomed by Japanese Prime Minister Shinzo Abe at the start of their talks at Abe's official residence in Tokyo, Japan, May 12, 2016.

Reuters/Toru Yamanaka

Kuwait’s trade surplus with Japan declined by 13.5% year-on-year to JPY 41.38 billion ($381.02 million) in October from JPY 47.85 billion ($440.60 million), the Japanese finance ministry said on Wednesday.

The trade surplus decline was attributed to a 5.1% decline in Kuwait’s exports to the Asian nation, reaching JPY 62.38 billion in October, compared to JPY 65.73 billion in the same month a year earlier, the ministry added.

Year-on-year, the GCC state’s imports from Japan, the world’s third largest economy, increased by 17.45% to JPY 21 billion in October versus JPY 17.88 billion a year earlier.

The Middle East’s trade surplus with Japan went down by 37.8% to JPY 434.24 billion last month, compared to JPY 697.99 billion in October 2018.

Moreover, Japan’s trade surplus dropped to JPY 17.27 billion during October from JPY 456.26 billion in the prior-year period.

Translated by: Muhammad Abdul-Wakeel

Source: Mubasher

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