Kuwait – Mubasher: Kuwait’s trade surplus with Japan retreated 52.8% in August on an annual basis for the last 15 months, the Japanese finance ministry said.
The surplus reached JPY 25.5 billion ($248 million), according to Kuwait News Agency (KUNA) on Wednesday.
Despite lower trade surplus and exports, Kuwait maintained them with Japan for eight years and seven months.
Kuwait’s exports to Japan fell 40.7% on an annual basis to reach JPY 40.2 billion ($396 million), while the imports from Japan rose 4% to reach JPY 15 billion ($148 million).
“Middle East’s trade surplus with Japan also narrowed by 35.1% to JPY 393.1 billion ($3.9 billion) last month, with Japan-bound exports tumbling 29.5% from a year earlier,” the report said.
Japan’s imports of crude oil, refined products and liquefied natural gas (LNG) reached 95.6% of the region’s total exports, while the region's overall imports from Japan declined 14%, as shipments of automobile, steel and electric equipment slowed.
