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FINANCIAL NEWS
Kuwait, Japan trade declines to USD408m in November
17 Dec 2014
(MENAFN) Kuwait’s Finance Ministry said that the country’s trade surplus with Japan declined for the first time in two months in November, plunging 42.0 percent to USD408 million compared with the same month last year, as exports sharply decreased, KUNA reported.
During November, Kuwaiti overall exports to Japan fell 33.7 percent to USD 570 million for the first decline in two months, while imports from Japan grew 3.8 percent to USD162 million, registering an increase for the consecutive fifth month.
Meanwhile, the Middle East’s trade surplus with Japan was also down 25.7 percent to USD7.4 billion in November, as Japan-bound exports from the region fell 18.1 percent, with exports of crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which account for 96.8 percent of the region’s total exports to Japan, dropping 18.8 percent, while the region’s overall imports from Japan jumped 17.5 percent, due to heavy shipments of automobile, steel, machinery and electric equipment.
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