A+ A-

Kuwait's trade surplus with Japan up 1st time in 3 months

TOKYO, May 21 (KUNA) -- Kuwait's trade surplus with Japan widened 16.3 percent from a year earlier to JPY 49.1 billion (USD 441 million) in April, expanding for the first time in three months, as exports outpaced rise in imports, the Finance Ministry said Monday.
Kuwait recorded black ink with Japan for 10 years and three months, the ministry said in a preliminary report. Kuwaiti overall exports to Japan jumped 17.5 percent to JPY 64.1 billion (USD 576 million) for the second consecutive month of increase. Imports from Japan rose 21.6 percent year-on-year to JPY 15.0 billion (USD 135 million), up for the sixth month.
Middle East's trade surplus with Japan grew surged 27.7 percent to JPY 578.7 billion (USD 5.2 billion) last month, with Japan-bound exports from the region growing 21.8 percent from a year earlier. Crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which accounted for 96.0 percent of the region's total exports to Japan, went up 23.2 percent. The region's overall imports from Japan rose 6.8 percent, buoyed by demand for automobiles.
The world's third-biggest economy posted a global surplus of JPY 626.0 billion (USD 5.6 billion) in April, marking a second straight month of black ink on robust shipments. Overall exports increased 7.8 percent, as shipments of cars to the US and the European Union, as well as semiconductor-related equipment to China were solid.
Imports rose 5.9 percent due to higher crude oil import bill. 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) mk