Kuwait’s trade surplus with Japan widened by 2.3 percent from the previous year to JPY 82.7 billion (USD 522 million) in May, marking the first increase in three months, according to the latest government data.
The Finance Ministry’s preliminary report highlighted that Kuwait has maintained a trade surplus with Japan for 16 years and four months, with exports significantly outpacing imports. Exports from Kuwait to Japan grew by 3.9 percent year-on-year to JPY 102.8 billion (USD 648 million), also marking the first increase in three months. Meanwhile, imports from Japan rose by 11.5 percent to JPY 20.1 billion (USD 126 million), the first rise in six months.
The trade surplus of West Asia with Japan also widened by 13.1 percent to JPY 831.6 billion (USD 5.3 billion) last month. Exports from the region to Japan increased by 12 percent compared to the previous year. Crude oil, refined products, liquefied natural gas, and other natural resources, which accounted for 94.2 percent of the region’s total exports to Japan, saw a 10.3 percent rise. Imports from Japan into the region climbed by 8.5 percent, driven by strong demand for automobiles, machinery, and steel.
Japan, the world’s third-largest economy, recorded a global trade deficit of JPY 1.2 trillion (USD 7.7 billion) in May, the second consecutive month of deficit. This was largely due to a weaker yen inflating import costs. Exports rose by 13.5 percent year-on-year, boosted by automobiles, semiconductor-making equipment, and chips. Imports increased by 9.5 percent, influenced by higher energy prices, particularly petroleum products and crude oil, amid the yen’s depreciation against the dollar. China remained Japan’s largest trade partner, followed by the US. The trade figures are measured on a customs-cleared basis before seasonal adjustments.
