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Kuwait's July trade surplus with Japan jumps 102.3 pct

TOKYO, Aug 17 (KUNA) -- Kuwait's trade surplus with Japan soared 102.3 percent from a year earlier to JPY 101.2 billion (USD 754 million) in July, up for the 16th consecutive month, thanks to high export bills, government data showed Wednesday.
Kuwait posted black ink with Japan for 14 years and six months, the Finance Ministry said in a preliminary report. Kuwait's overall exports to Japan swelled 91.9 percent year-on-year to JPY 121.2 billion (USD 902 million) for the 16th straight month of increase. Imports from Japan gained 52.4 percent to JPY 20.0 billion (USD 149 million), up for the third month in a row.
Middle East's trade surplus with Japan surged 130.2 percent to JPY 1.1 trillion (USD 8.0 billion) last month, with Japan-bound exports from the region jumping 98.0 percent from a year earlier.
Crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which accounted for 95.6 percent of the region's total export bills to Japan, inflated 100.0 percent. The region's overall imports from Japan grew 20.4 percent on demand for automobiles, machinery and manufactured goods.
The world's third-biggest economy logged a global trade deficit of JPY 1.4 trillion (USD 10.7 billion) in July for the 12th straight month, as surging energy bills and a weaker yen continued to push up the value of its imports.
The deficit hit the highest level for July since the ministry began compiling data in 1979. Exports increased 19.0 percent from the year before, buoyed by sales of cars, mineral fuels and semiconductor production equipment.
Imports jumped 47.2 percent on higher energy prices, such as crude oil, coal and LNG. 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.mt