Kuwait's June trade surplus with Japan up 32.7%

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Kuwait's trade surplus with Japan widened 32.7 percent from a year earlier to JPY 90.1 billion (USD 556 million) in June, up for the second consecutive month buoyed by strong exports, government data showed on Thursday.

Kuwait stayed in black ink with Japan for 16 years and five months, the Finance Ministry said in a preliminary report. Overall exports from Kuwait to Japan jumped 24.3 percent year-on-year to JPY 115.6 billion (USD 597 million), up for the second straight month. Imports from Japan grew 1.6 percent to JPY 25.5 billion (USD 152 million), up for the second month in a row.

Middle East's trade surplus with Japan widened 2.5 percent to JPY 645.0 billion (USD 4.1 billion) last month, with Japan-bound exports from the region increasing 6.2 percent from a year earlier. Crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which accounted for 95.2 percent of the region's total exports to Japan, went up 6.7 percent. The region's overall imports from Japan soared 14.4 percent on demand for automobiles, machinery and steel.

Japan's global trade balance returned to surplus for the first time in three months at JPY 224.0 billion (USD 1.4 billion) in June. Exports rose 5.4 percent from the year before, thanks to shipments of semiconductor-making equipment, non-ferrous metal and plastic. Imports expanded 3.2 percent, as computers and units, power generating machines and crude oil inflated costs amid the yen's depreciation against the dollar.

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.