Kuwait’s March trade surplus with Japan almost doubles

Kuwait’s March trade surplus with Japan almost doubles

TOKYO, April 20 (KUNA) -- Kuwait's trade surplus with Japan almost doubled from a year earlier to JPY 121.4 billion (USD 902 million) in March, fueled by brisk export performance, government data showed Thursday.

The Finance Ministry said in a preliminary report that the surplus surged by 98.5 percent, up for the first time in two months, and Kuwait recorded black ink with Japan for 15 years and two months on a monthly basis.

Kuwaiti overall exports to Japan ballooned 91.4 percent year-on-year to JPY 149.7 billion (USD 1.1 billion) for the first expansion in two months.

Imports from Japan also inflated 65.8 percent to JPY 28.4 billion (USD 211 million), up for the 11th month in a row.

Middle East's trade surplus with Japan widened 5.4 percent to JPY 819 billion (USD 6.1 billion) last month, with Japan-bound exports from the region increasing 12.1 percent from a year earlier.

Crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which accounted for 95.8 percent of the region's total exports to Japan, rose 13.1 percent. The region's overall imports from Japan expanded 32.3 percent on demand for automobiles and machinery.

The world's third-biggest economy logged a global trade deficit of JPY 754.5 billion (USD