Kuwait’s trade surplus with Japan up 1st time in 4 mnts
EU-Kuwait trade exchanges show increase
TOKYO, Oct 21, (KUNA): Kuwait’s trade surplus with Japan rose 9.2 percent from a year earlier to JPY 50.9 billion (USD 469 million) in September, expanding for the first time in four months thanks to improving exports, the Finance Ministry said Monday.
Kuwait recorded black ink with Japan for 11 years and eight months, the ministry said in a preliminary report.
Kuwaiti overall exports to Japan grew 0.9 percent to JPY 65.0 billion (USD 598 million) for the first increase in four months. Imports from Japan plunged 21.0 percent year-onyear to JPY 14.0 billion (USD 129 million), down for the seventh month in a row.
Middle East’s trade surplus with Japan shrank 21.2 percent to JPY 469.6 billion (USD 4.3 billion) last month, with Japanbound exports from the region declining 13.6 percent from a year earlier. Crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which accounted for 95.9 percent of the region’s total exports to Japan, fell 13.5 percent.
Imports
The region’s overall imports from Japan increased 8.5 percent, buoyed by strong demand for automobiles, steel, machinery and electric equipment.
The world’s third-biggest economy posted a global trade deficit of JPY 123.0 billion (USD 1.1 billion) in September for the third straight month of red ink on sluggish shipments to China and South Korea. Exports slid 5.2 percent from the year before chiefly due to weak demand for auto parts to China and semiconductor manufacturing equipment to South Korea. Imports decreased 1.5 percent on lower energy bills, including crude oil from Saudi Arabia.
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.
Meanwhile, trade exchanges between the European Union (EU) and Kuwait showed an increase in July 2019, latest figures released by the EU’s statistical office, Eurostat, showed Monday.
According to Eurostat, EU trade exchanges in July 2019 reached EUR 830.85 million (USD 927.43 million) compared to EUR 776.83 million (USD 867 million) in July 2018.
Euro area trade exchanges with Kuwait in July 2019 totalled EUR 698.29 million (USD 779.45 million) as compared to EUR 610.05 million (USD 681.29 million) in July 2018.
EU imports from Kuwait in July 2019 were valued at EUR 343.68 million (USD 383.67 million) compared to EUR 287.49 million (USD 320.94 million) in July 2018, while its exports to Kuwait reached EUR 487.17 million (USD 543.84 million) as compared to EUR 489.34 million (USD 546.26 million) in July 2018.
As for EU imports from Kuwait in July 2019, It valued at EUR 292.94 million (USD 327.05 million) compared to EUR 220.91 million (USD 246.63 million) in July 2018.
EU exports to Kuwait reached EUR 405.35 million (USD 452.57 million), compared to EUR 389.14 million (USD 434.47 million) in July 2018.