Kuwait-Mubasher: The trade surplus between Kuwait and Japan dropped 37.7% to reach KWD 29.6 billion ($242 million) in November, shrinking for the sixth month in a row, Kuwait News Agency (KUNA) cited a report issued by Japan’s finance ministry.
Kuwaiti overall exports to Japan fell 20.8% year-on-year to JPY 52.7 billion ($431 million), the sixth straight monthly decrease, while imports from Japan grew 21.7% to JPY 23.0 billion ($188 million), up for the sixth month.
The report noted that the Middle East's trade surplus with Japan also fell by 57.7% to JPY 364.6 billion ($3.0 billion) last month, with Japan-bound exports from the region plunging 41.3$ from last earlier.
“Crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which accounted for 94.6% of the region's total exports to Japan, slipped 42.7%. The region's overall imports from Japan gained 11.4%, buoyed up by strong shipments of vehicles,” according to KUNA.
