Kuwait's March trade surplus with Japan down 80.3 Pct

TOKYO, April 17 (KUNA) -- Kuwait's trade surplus with Japan plunged 80.3 percent from a year earlier to JPY 20.9 billion (USD 146 million) in March, down for the second straight month due to slow exports, government data showed Thursday. However, Kuwait posted black ink with Japan for 17 years and two months, as exports still outpaced imports in value, the Finance Ministry said in a preliminary report. Overall exports from Kuwait to Japan plummeted 55.2 percent year-on-year to JPY 57.5 billion (USD 403 million), down for the second month in a row. Imports from Japan surged 64.8 percent to 36.6 billion (USD 256 million), up for the fourth consecutive month. Middle East's trade surplus with Japan shrank 29.0 percent to JPY 566.2 billion (USD 4.0 billion) last month, with Japan-bound exports from the region sliding 14.8 percent from a year earlier. Crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which made up 94.1 percent of the region's total exports to Japan, declined 16.3 percent. The region's overall imports from Japan grew 17.1 percent on demand for automobiles and motors.
The world's third-biggest economy logged a global trade surplus of JPY 544.1 billion (USD 3.8 billion) in March for the second straight month. Exports increased 3.9 percent from the year before, thanks to sales of vehicles, chip-making equipment and non-ferrous metal. Imports rose 2.0 percent chiefly due to higher bills for pharmaceutical products, communication devices such as smartphones, and clothes.
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.aa