Tokyo, Dec. 15 (BNA): Kuwait’s trade surplus with Japan increased 73.0% from a year ago to 100.8 billion yen ($743 million) in November, an increase for the 20th consecutive month, as exports continued to outpace imports by a large margin. Government data showed Thursday.
The Kuwait News Agency (KUNA) quoted the Ministry of Finance as saying in a preliminary report. Kuwait remained in black ink with Japan for 14 years and 10 months.
Total exports from Kuwait to Japan rose 68.6% year-on-year to 122.3 billion yen (901 million USD) for the 20th consecutive month of expansion. Imports from Japan also jumped 50.8 percent to 21.4 billion yen (158 million US dollars), up for the seventh consecutive month.
The Middle East’s trade surplus with Japan swelled 58.4 percent to 1.1 trillion yen ($8.2 billion) last month, with exports destined for Japan from the region up 56.9 percent from a year earlier.
Crude oil, refined products, liquefied natural gas and other natural resources, which accounted for 95.9 percent of the region’s total exports to Japan, swelled by 60.1 percent. The region’s total imports from Japan jumped 51.2 percent thanks to strong demand for automobiles, machinery and manufactured goods.
The world’s third-largest economy posted a global trade deficit in November for the 16th consecutive month at JPY 2.0 trillion (US$ 14.9 billion), as rising energy bills and a depreciating yen boosted the value of its imports.
The figure was the largest for November since comparative data became available in 1979. Exports were up 20.0 percent from a year earlier, supported by sales of cars, machinery and ships. However, imports increased by 30.3 percent due to higher energy prices, especially crude oil, coal and LNG.
China remains Japan’s largest trading partner, followed by the United States. Trade data is measured on a customs clearance basis before adjusting for seasonal factors.
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