Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait Trade Surplus With Japan Widens 1.7% In Nov  Join our daily free Newsletter

MENAFN - Qatar News Agency - 19/12/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Qatar News Agency) Kuwait's trade surplus with Japan widened 1.7 percent in November to JPY 82.0 billion (797 million) from a year earlier, marking the second straight month of expansion, as its export values were almost five times bigger than import values, the Finance Ministry said Wednesday. Kuwait maintained black ink with Japan for the 70th consecutive month, the ministry said in a preliminary report. Kuwaiti overall exports to Japan grew 6. 1 percent to JPY 100.2 billion (1.1 billion), up for the second month in a row, and imports from Japan rose 31.5 percent year-on-year to JPY 18.2 billion (177 million), up for the seventh straight month. Middle East's trade surplus with Japan jumped 35.3 percent to JPY 1.151 trillion (9.7 billion) last month, with Japan-bound exports from the region expanding 33.4 percent from a year earlier. Crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which accounted for 97.6 percent of the region's total exports to Japan, jumped 32.8 percent on the year.

The region's overall imports from Japan went up 24.7 percent, thanks to robust shipments of automobile, machinery, and steel. The world's third-biggest economy registered a global deficit of JPY 1.293 trillion (12.6 billion), in November as soaring energy costs offset export values, marking the 17th straight month of shortfall, the longest stretch of red ink since 1979, when the country had been hit by the second oil shock. It was the third-biggest trade deficit for any month since comparable data became available in January 1979. Overall exports rose 18.4 percent to JPY 5.900 trillion (57.3 billion), buoyed by strong shipments of vehicles to the US amid falling yen. But imports also increased 21.1 percent to JPY 7.193 trillion (69.9 billion), as the weaker yen continued to push up fossil fuel imports costs, which comprise more than one third of all imports.

Boosted
Japanese utilities have boosted fuel imports for thermal power generation, as all the nation's 50 workable nuclear reactors are currently offline in the wake of the radiation accident in March 2011 at the Fukushima Daiichi nuclear power plant, which was triggered by the massive earthquake and tsunami. Exports to China, Japan's biggest trading partner, jumped 33.1 percent, and imports from the country expanded 19.4 percent, despite a territorial dispute between Tokyo and Beijing. Japan's currency weakened about 23.3 percent from a year earlier to JPY 98. 43 in November, according to the ministry. The yen's depreciation supports exports by making Japanese products more competitive overseas and increase the value of repatriated overseas earning, but it also inflates import prices. The trade data are measured on a customs-cleared basis before adjustment for seasonal factors.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help