Kuwait city: Kuwait's trade surplus with Japan narrowed 66.7 percent from a year earlier to JPY 30.0 billion (USD 188 million) in June, marking a decline for the fifth consecutive month due to sluggish exports, government data revealed on Thursday. Despite the decrease, Kuwait maintained a trade surplus with Japan for 17 years and five months, as the value of exports continued to offset imports, according to a preliminary report by the Finance Ministry. According to Kuwait News Agency, overall exports from Kuwait to Japan saw a significant drop of 45.2 percent year-on-year, amounting to JPY 63.4 billion (USD 404 million), continuing a downward trend for the fifth straight month. Conversely, imports from Japan experienced a growth of 30.6 percent, reaching JPY 33.3 billion (USD 209 million), marking an increase for the seventh month in a row. The Middle East as a whole also experienced a narrowing of its trade surplus with Japan, which decreased by 40.8 percent to JPY 382.4 billion (USD 2.5 billion) last mon th. This was attributed to a 21.2 percent decline in Japan-bound exports from the region. Crude oil, refined products, liquefied natural gas (LNG), and other natural resources, which comprised 92.7 percent of the region's total exports to Japan, fell by 23.2 percent. Moreover, the region's imports from Japan rose by 17.6 percent, driven by demand for automobiles and machinery. Japan's global trade balance saw a return to surplus for the first time in three months at JPY 153.1 billion yen (USD 1.0 billion) in June, although this represented a 30.8 percent decline year-on-year, primarily due to weak exports to the US and lower energy bills. The report further highlighted that exports from Japan decreased by 0.5 percent from the previous year, mainly due to reduced shipments of automobiles to the US amid higher tariffs. Imports, on the other hand, slightly increased by 0.2 percent, driven by pharmaceutical products, mobile phones, and electronic semiconductor parts. China remained Japan's largest trade partner , followed by the US. The trade data are measured on a customs-cleared basis before adjustment for seasonal factors.
