Kuwait's Trade With Japan Declined Due To A Slowdown In Exports

In November, Kuwait's trade surplus with Japan dropped by 18.2% compared to the same period last year and reached 82.5 billion Japanese yen ($574 million). This marks the second consecutive month of decline, attributed to a slowdown in exports.

Kuwait has maintained a positive trade surplus with Japan for 15 years and 10 months, indicating that exports have exceeded imports.

Further, Kuwait's total exports to Japan decreased by 10.3% year-on-year, reaching 109.7 billion yen ($763 million), marking the second consecutive decline; Kuwait's imports from Japan increased by 26.8% for the 19th consecutive month, reaching 27.2 billion yen (189 million dollars).

Compared to the previous year, the Middle East's trade surplus with Japan decreased by 20.5% last month, amounting to 882.3 billion yen ($6.1 billion).

Oil, refined products, liquefied natural gas, and other natural resources, which comprise 95.4% of the region's total exports to Japan, decreased by 11.4%. However, the region’s total imports from Japan increased by 25.6%, driven by strong demand for cars, machinery, and manufactured goods.

As the world's third-largest economy, Japan recorded a global trade deficit in November amounting to 776.9 billion yen ($5.4 billion). Due to lower energy prices, particularly coal, liquefied natural gas, and crude oil, this deficit was attributed to an 11.9% decrease in imports.

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