Kuwait City: Kuwait’s trade surplus with Japan narrowed by 34.0 percent from a year earlier, reaching JPY 49.7 billion (USD 324 million) in April. This marks the third consecutive month of decline, primarily due to a slowdown in exports, as revealed by government data on Wednesday. Despite this downturn, Kuwait has consistently maintained a trade surplus with Japan for 17 years and three months, with export values surpassing imports, highlighted in a preliminary report by the Finance Ministry.
According to Kuwait News Agency, overall exports from Kuwait to Japan decreased by 21.7 percent year-on-year, amounting to JPY 74.0 billion (USD 493 million). This decline has persisted for three months. Conversely, imports from Japan increased by 26.9 percent, reaching JPY 24.3 billion (USD 157 million), marking growth for the fifth consecutive month.
The Middle East’s trade surplus with Japan also experienced a decline of 8.9 percent, totaling JPY 771.4 billion (USD 5.3 billion) in the same month. Exports from the region to Japan fell by 7.7 percent compared to the previous year. Crude oil, refined products, liquefied natural gas (LNG), and other natural resources, which constitute 94.8 percent of the region’s total exports to Japan, decreased by 9.2 percent.
The region’s total imports from Japan contracted by 4.7 percent due to weak demand for manufactured goods. Meanwhile, Japan’s global trade balance returned to a deficit in April, amounting to JPY 115.9 billion (USD 783 million), marking the first deficit in three months. While exports increased by 2.0 percent from the previous year, driven by semiconductor-making equipment, chips, food, and pharmaceutical products, car sales to the US declined in value. Imports decreased by 2.2 percent due to lower costs for coal, crude oil, and aircraft. China remained Japan’s largest trading partner, followed by the US.
These trade figures are based on a customs-cleared basis before adjustments for seasonal factors.