Kuwait News

Decline in Kuwait’s trade with Japan attributed to a slowdown in exports

Government data released yesterday showed a decline in Kuwait’s trade surplus with Japan in November, dropping by 18.2% compared to the same period last year and reaching 82.5 billion Japanese yen ($574 million). This marks the second consecutive month of decline, attributed to a slowdown in exports.

According to the Japanese Ministry of Finance’s preliminary report, Kuwait has maintained a positive trade surplus with Japan for 15 years and 10 months, indicating that the value of exports exceeds that of imports.

The data further indicates a 10.3% year-on-year decrease in Kuwait’s total exports to Japan, reaching 109.7 billion yen ($763 million), marking the second consecutive decline; meanwhile, Kuwait’s total imports from Japan increased by 26.8% for the 19th consecutive month, reaching 27.2 billion yen (189 million dollars).

The Middle East’s trade surplus with Japan decreased by 20.5% last month, amounting to 882.3 billion yen ($6.1 billion), with the region’s exports to Japan falling by 10.9% compared to the previous year.

The data highlights that shipments of oil, refined products, liquefied natural gas, and other natural resources, constituting 95.4% of the region’s total exports to Japan, decreased by 11.4%. However, the region’s total imports from Japan increased by 25.6%, driven by strong demand for cars, machinery, and manufactured goods.

Japan, the world’s third-largest economy, recorded a global trade deficit in November for the second consecutive month, amounting to 776.9 billion yen ($5.4 billion). This deficit was attributed to an 11.9% decrease in imports due to lower energy prices, particularly in coal, liquefied natural gas, and crude oil.

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