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AlwaysFree: Kuwait's April Trade Surplus With Japan Down 2.6%


  • Middle East's trade surplus with Japan narrowed 30.9 percent to $5.4 billion last month

According to Zawya article published on May 18, 2023, Kuwait's trade surplus with Japan narrowed 2.6 percent from a year earlier to JPY 79.9 billion (USD 581 million) in April, down for the first time in two months, due to slowing exports, government data showed Thursday.

But Kuwait stayed in black ink with Japan for 15 years and three months, as exports still offset imports in value, the Finance Ministry said in a preliminary report. Kuwaiti overall exports to Japan grew 6.4 percent year-on-year to JPY 104.9 billion (USD 763 million) for the second straight month of expansion. Imports from Japan jumped 50.6 percent to JPY 25.0 billion (USD 181 million), up for the 12th month in a row.

Middle East's trade surplus with Japan narrowed 30.9 percent to JPY 740.1 billion (USD 5.4 billion) last month, with Japan-bound exports from the region sliding 20.9 percent from a year earlier, it said.

Crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which accounted for 95.6 percent of the region's total exports to Japan, dropped 21.5 percent, it added. The region's overall imports from Japan increased 29.2 percent on demand for automobiles, machinery and steel.

The world's third-biggest economy posted a global deficit of JPY 432.4 billion (USD 3.1 billion) in April for the 21th straight month of red ink, but the deficit nearly halved to a one-year low, chiefly due to lower energy bills, the ministry added.

Exports gained 2.6 percent from the year before, buoyed by robust shipments of automobiles. Imports fell 2.3 percent, as energy prices, especially crude oil and LNG fell, it added.

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, it noted.

Tags: All Products,AlwaysFree,Asia Pacific,English,Japan,Kuwait,Middle East,NEA

Published on May 19, 2023 4:34 PM (GMT+8)
Last Updated on May 19, 2023 4:35 PM (GMT+8)