Kuwait's August trade surplus with Japan down 44.1 Pct

TOKYO, Sept 20 (KUNA) -- Kuwait's trade surplus with Japan narrowed 44.1 percent from a year earlier to JPY 66.7 billion (USD 451 million) in August, down for the fifth consecutive month due to weak exports, government data showed on Wednesday.

The Finance Ministry said in a preliminary report that Kuwait stayed in black ink with Japan for 15 years as exports still offset imports in value, Overall Kuwaiti exports to Japan plummeted 34.2 percent year-on-year to JPY 87.8 billion (USD 593 million), down for the fourth straight month.
Imports from Japan surged 49.9 percent to JPY 21.1 billion (USD 143 million), up for the 16th month in a row.
Middle East's trade surplus with Japan also narrowed 38.8 percent to JPY 877.7 billion (USD 5.9 billion) last month, with Japan-bound exports from the region sliding 30.2 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, plunged 30.4 percent. The region's overall imports from Japan also soared 37.4 percent on demand for automobiles, machinery and steel.
The world's third-biggest economy logged a global trade deficit of JPY 930.5 billion (USD 6.3 billion) in August for the second straight month, as surging energy bills and a weaker yen continued to push up the value of its imports. Exports delinked 0.8 percent from the year before, weighed down particularly by sluggish shipments of mineral fuels and semiconductor production equipment, despite strong demand for automobiles to the US, and imports fell 17.8 percent on lower energy prices.
Exports to China, Japan's biggest trade partner, shrank 11.0 percent amid the country's import ban on Japanese seafood starting late August. The trade data are measured on a customs-cleared basis before adjustment for seasonal factors. (end) mk.ahm.