TOKYO, Oct 19 (KUNA) — Kuwait's trade surplus with Japan soared 158.5 percent from a year earlier to JPY 50.0 billion (USD 444 million) in September, up for the ninth month on strong exports, the Japanese Finance Ministry said Thursday.
Kuwaiti overall exports to Japan surged 59.7 percent year-on-year to JPY 61.7 billion (USD 548 million) for the ninth consecutive month of expansion, the ministry said in a preliminary report.
Imports from Japan plunged 39.3 percent to JPY 11.7 billion (USD 104 million) for the fourth straight monthly fall. As a result, Kuwait maintained monthly black ink with Japan for nine years and eight months, it said.
Middle East's trade surplus with Japan jumped 39.8 percent to JPY 375.7 billion (USD 3.3 billion) last month, with Japan-bound exports from the region growing 14.9 percent from a year earlier. Crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which accounted for 94.9 percent of the region's total exports to Japan, expanded 14.0 percent. The region's overall imports from Japan declined 12.5 percent, chiefly due to weak shipments of automobile, machinery and steel.
The world's third-biggest economy logged a global surplus of JPY 670.2 billion (USD 6.0 billion) in September, marking the fourth consecutive month of black ink, thanks to a rise in shipments of semiconductor manufacturing equipment and automobile engines to the US. Overall exports gained 14.1 percent from the year before, while imports grew 12.0 percent, with value of crude oil jumping 15.0 percent.
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. (end) mk.gta