TOKYO-- Kuwait's trade surplus with Japan narrowed 51.7 percent from a year earlier to JPY 37.6 billion (USD 234 million) in September, down for the first time in two months due to weak exports, government data showed on Thursday.

Kuwait stayed in black ink with Japan for 16 years and eight months, as exports still offset imports in value, the Finance Ministry said in a preliminary report. Overall Kuwaiti exports to Japan slid 39.4 percent year-on-year to JPY 62.4 billion (USD 396 million) for the first decline in two months. Imports from Japan also fell 1.1 percent to 24.8 billion (USD 155 million), down for the first time in five months.

Middle East's trade surplus with Japan narrowed 14.5 percent to JPY 628.1 billion (USD 4.2 billion) last month, with Japan-bound exports from the region falling 6.8 percent from a year earlier.

Crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which accounted for 94.6 percent of the region's total exports to Japan, shrank 7.1 percent. The region's overall imports from Japan grew 11.7 percent on robust demand for automobiles.

The world's third-biggest economy logged a global trade deficit of JPY 294.3 billion yen (USD 1.9 billion) in September for the third consecutive month, as a weaker yen continued to push up the value of its imports.
Exports shrank 1.7 percent from the year before due to sluggish shipments of automobiles and increased mineral fuels imports.

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. 

All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (Syndigate.info).