Kuwait's Trade Surplus with Japan Jumps 46.1 PctSource: www.export-egypt.com 7/20/2017, Location: Middle East |
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Kuwait's trade surplus with Japan expanded by 46.1 percent from a year earlier to JPY 25.6 billion (USD 228 million) in July, up for the sixth month in a row, thanks to brisk exports, the Japanese Finance Ministry said
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Kuwaiti overall exports to Japan grew 20.4 percent year-on-year to JPY 38.8 billion (USD 346 million) for the sixth consecutive month of expansion, the ministry said in a preliminary report. Imports from Japan fell 10.2 percent to JPY 13.2 billion (USD 118 million), down for the first time in two months. As a result, Kuwait maintained monthly black ink with Japan for nine years and five months, it said. However, Middle East's trade surplus with Japan increased 9.6 percent to JPY 350.5 billion (USD 3.1 billion) last month, with Japan-bound exports from the region rising 1.4 percent from a year earlier. Crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which accounted for 93.8 percent of the region's total exports to Japan, edged up 0.5 percent. The region's overall imports from Japan declined 10.4 percent, due to weaker demand for vehicle, steel and machinery. Japan's global trade balance returned to surplus in June, reflecting a strong demand overseas for semiconductors-related equipment and automobiles. The world's third-biggest economy posted the first trade black ink in two months at JPY 439.9 billion (USD 3.9 billion) last month. Overall exports fell 9.7 percent from the year before, while imports jumped 15.5 percent, with value of LNG surging 43.9 percent. 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. |
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