Kuwait's trade surplus with Japan down 1st time in two months

TOKYO, June 18 (KUNA) -- Kuwait's trade surplus with Japan fell 12.2 percent from a year earlier to JPY 42.3 billion (USD 383 million) in May, down for the first time in two months on weak exports, the Japanese Finance Ministry said Monday.
But Kuwait stayed in black ink with Japan for 10 years and four months, the ministry said in a preliminary report.
Overall Kuwait's exports to Japan plunged 10.1 percent year-on-year to JPY 54.9 billion (USD 497 million) for the first drop in three months, while imports from Japan slid 2.0 percent to JPY 12.6 billion (USD 114 million), down for the first time in seven months.
Middle East's trade surplus with Japan surged 39.3 percent to JPY 653.6 billion (USD 5.9 billion) last month, with Japan-bound exports from the region jumping 33.5 percent from a year earlier. Crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which accounted for 94.7 percent of the region's total exports to Japan, inflated 33.7 percent.
The region's overall imports from Japan expanded 15.0 percent, buoyed by strong shipments of cars and machinery.
Japan's global trade balance returned to deficit in May, as higher energy cost pushed up import bills despite a pickup in exports, posting the first trade red ink in three months at JPY 578.3 billion (USD 5.2 billion).
Exports of the world's third-biggest economy rose 8.1 percent, thanks to increased shipment of automobiles, semiconductor-related equipment and car parts.
Imports grew 14.0 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.rk