TOKYO, 20th July, 2017 (WAM) -- Kuwait's trade surplus with Japan expanded by 46.1 percent from a year earlier to JPY25.6 billion (US$228 million) in July, up for the sixth month in a row, thanks to brisk exports, the Japanese Finance Ministry said on Thursday.
Kuwaits overall exports to Japan grew 20.4 percent year-on-year to JPY38.8 billion ($346 million) for the sixth consecutive month of expansion, the ministry said in a preliminary report, carried by Kuwait News Agency, KUNA. Imports from Japan fell 10.2 percent to JPY13.2 billion ($118 million), down for the first time in two months. As a result, Kuwait maintained monthly black ink with Japan for nine years and five months, it said. However, the Middle East's trade surplus with Japan increased 9.6 percent to JPY350.5 billion ($3.1 billion) last month, with Japan-bound exports from the region rising 1.4 percent from a year earlier. Crude oil, refined products, liquefied natural gas, LNG, and other natural resources, which accounted for 93.8 percent of the region's total exports to Japan, edged up 0.5 percent. The region's overall imports from Japan declined 10.4 percent, due to weaker demand for vehicles, steel and machinery. Japan's global trade balance returned to surplus in June, reflecting a strong demand overseas for semiconductor-related equipment and automobiles. The world's third-biggest economy posted the first trade black ink in two months at JPY439.9 billion ($3.9 billion) last month. Overall exports fell 9.7 percent from the year before, while imports jumped 15.5 percent with the value of LNG surging 43.9 percent. China remained Japan's biggest trade partner, followed by the US. The trade data is measured on a customs-cleared basis before adjustment for seasonal factors.Copyright Emirates News Agency (WAM) 2017.
