Kuwait's Trade Surplus with Japan More Than DoubledSource: www.export-egypt.com 5/22/2017, Location: Middle East |
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Kuwait's trade surplus with Japan more than doubled to JPY 42.2 billion (USD 379 million) from a year earlier in April thanks to strong exports, the Japanese Finance Ministry said
The surplus surged by 124.9 percent, up for the fourth month in a row, the ministry said in a preliminary report. Kuwaiti overall exports to Japan soared 76.4 percent year-on-year to JPY 54. 6 billion (USD 490 million) for the fourth consecutive month of expansion. Imports from Japan declined 1.6 percent to JPY 12.4 billion (USD 111 million), down for the eighth straight month. As a result, Kuwait maintained monthly black ink with Japan for nine years and three months. Middle East's trade surplus with Japan also jumped 99.1 percent to JPY 454. 1 billion (USD 4.1 billion) in April, with Japan-bound exports from the region soaring 45.4 percent from a year earlier. Crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which accounted for 94.9 percent of the region's total exports to Japan, grew 47.6 percent. The region's overall imports from Japan declined 13.4 percent, due to weaker demand for vehicle and machinery. The world's third-biggest economy logged a global trade surplus of JPY 481. 8 billion (USD 4.3 billion) in April for the third straight month, buoyed by continued rise in exports to Asia. Exports grew 7.5 percent from the year before, while imports jumped 15.1 percent, with the value of crude oil surging 61.0 percent. Deficit with China, Japan's biggest trade partner, shrank 18.0 percent to JPY 243.0 billion (USD 2. 2 billion). The trade data are measured on a customs-cleared basis before adjustment for seasonal factors. |
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