Registering a sharp fall, Kuwait’s trade surplus with Japan fell to 51.7 percent in September, from a year earlier to 37.6 billion yen ($234 million). It’s the first decline in two months, government data showed on Tuesday, as exports slowed.
The data, released by Japan’s finance ministry in a preliminary report, revealed Kuwait’s trade surplus with Japan has remained positive for 16 years and eight months. Thanks to the higher value of its exports compared to its imports.
Total Kuwaiti exports to Japan fell 39.4 percent year-on-year to 62.4 billion yen ($396 million), while imports from Japan fell 1.1 percent to 24.8 billion yen ($155 million), the first decline in five months.
The Middle East’s trade surplus with Japan fell 14.5 percent to 628.1 billion yen ($4.2 billion) last month, that’s hurt by a 6.8 percent drop in exports to Japan from the region from a year earlier.
Imports of crude oil, refined products, liquefied natural gas and other natural resources, which accounted for 94.6 percent of the region’s total exports to Japan, fell by 7.1 percent. Whereas, the region’s total imports from Japan rose to 11.7 percent, which was due to strong demand for automobiles.
The world’s third-largest economy posted a global trade deficit of 294.3 billion yen ($1.9 billion) in September, for the third straight month, weighed down by a weaker yen against the dollar, which in turn boosted imports.
Exports fell to 1.7 percent from a year earlier due to slower shipments of automobiles and mineral fuels, while imports rose 2.1 percent due to higher costs of computers, modules, electronic semiconductor parts and pharmaceuticals. China remains Japan’s largest trading partner, followed by the United States.
