TOKYO, Feb 19 (KUNA) -- Kuwait's trade surplus with Japan surged 35.3 percent from a year earlier to JPY 76.9 billion (USD 485 million) in January, up for the first time in five months fueled by robust exports, government data showed Wednesday.
Kuwait posted black ink with Japan for 17 years on a monthly basis, the Finance Ministry said in a preliminary report. Overall exports from Kuwait to Japan soared 44.6 percent year-on-year to JPY 101.1 billion (USD 645 million) for the first expansion in five months. Imports from Japan also jumped 85.2 percent to JPY 24.2 billion (USD 149 million), up for the second month in a row.
Middle East's trade surplus with Japan widened 4.4 percent to JPY 832.8 billion (USD 550 billion) last month, with Japan-bound exports from the region expanding 13.7 percent from a year earlier.
Crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which made up 94.5 percent of the region's total exports to Japan, rose 12.8 percent. The region's overall imports from Japan also inflated 41.5 percent on demand for automobiles, machinery and steel.
Japan's global trade balance returned to deficit in January, marking the first red ink in two months at JPY 2.8 trillion (USD 18.2 billion), chiefly due to a surge in imports and the yen's depreciation. Exports grew 7.2 percent from the year before, thanks to strong shipments of vehicles, ships and pharmaceuticals.
Imports also increased 16.7 percent on communication devices such as smartphones, and electronics as well as pharmaceutical products. Both the value of exports and imports marked record highs for January since comparable data became available in 1979 amid the weakening yen.
China remained Japan's biggest trade partner, followed by the US. The trade data are measured on a customs-cleared basis before adjustment for seasonal factors. (end) mk.mt