Mubasher: Kuwait’s trade surplus with Japan surged 44.4% year-on-year to JPY 70.87 billion ($642.12 million) in April from JPY 49.06 billion ($444.51 million), the Japanese finance ministry said on Wednesday.
The trade surplus growth was attributed to a 31.8% increase in Kuwait’s exports to the Asian nation, reaching JPY 84.45 billion in April, compared to JPY 64.09 billion in the same month a year earlier, the ministry added.
Year-on-year, the GCC state’s imports from Japan, the world’s third largest economy, levelled down 9.6% to JPY 13.58 billion in April versus JPY 15.03 billion.
The Middle East’s trade surplus with Japan grew 9.3% to JPY 632.67 billion last month, compared to JPY 579.01 billion in April 2018.
Japan’s trade surplus plunged 90.3% to JPY 60.40 billion during April from JPY 620.96 billion in the prior-year period.