Quotes: 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 i 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.

 


Qatar News Agency




  MENA News Headlines
 Jun 26 2016 - Saudi Arabia chooses financial planners for USD10bn bondMENAFN
(MENAFN) Saudi Arabia has picked Citigroup, HSBC and JP Morgan to arrange its new USD10 billion bond, local financial sources reported.Banks had pitched for roles on the transaction earlier this ...

 Jun 26 2016 - Dubai's new industrial vision to generate USD44bMENAFN
(MENAFN) Dubai has announced its new Industrial Strategy, which will oversee 75 initiatives to add USD44 billion to the emirate's economy.The plan has been approved by Vice President and Prime ...

 Jun 26 2016 - Turkey Anel grasps USD66m in DohaMENAFN
(MENAFN) Turkish-based Anel Mepa has won an USD66.5 million contract for the Red Line of Doha Metro scheme, a report said.In detail, the agreement includes building automation and management and ...

 Jun 26 2016 - Oman engineering college kick off solar projectMENAFN
(MENAFN) The Sultan Qaboos University (SQU) College of Engineering said it's currently working on a new solar project.In detail, the USD559 thousand project is expected to generate electricity with ...

 Jun 26 2016 - Damac awarded USD817m deals in H1MENAFN
(MENAFN) Damac Properties, a UAE firm, said it had awarded 25 construction and consultancy contracts worth USD817 million during the first half of this year.In detail, the leading luxury real estate ...

 Jun 26 2016 - Saudi, UAE say no big financial effect from BrexitMENAFN
(MENAFN) Saudi Arabia and UAE said that they did not expect remarkable effect to their financial institutions after Britain's vote to leave the European Union."Kingdom had already made some ...

 Jun 26 2016 - UAE Embassy in distributes Ramadan aid to Muslims in VietnamEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) HANOI, 26th June, 2016 (WAM) -- The UAE Embassy in Vietnam has overseen the distribution of food aid to 150 underprivileged Muslim families in the Nghia ...

 Jun 26 2016 - Qatar Petroleum announces integration of TasweeqEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DOHA, 26th June, 2016 (WAM) -- Qatar Petroleum, QP, the state owned petroleum company in Qatar, has announced the integration of Qatar International ...

 Jun 26 2016 - UAE- Ajman Chamber organises 4th diplomatic forum and discusses economic cooperationEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) AJMAN, 26th June, 2016 (WAM) -- The Ajman Chamber of Commerce and Industry, ACCI, organised the 4th edition of its annual Ramadan Diplomatic Forum aimed at ...

 Jun 26 2016 - UAE Space Agency and Lockheed Martin partner to train next generation of UAE national space talentEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 26th June, 2016 (WAM) -- The UAE Space Agency has signed a Memorandum of Understanding, MoU, with Global technology leader, Lockheed Martin, to ...

more...


 





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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

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
Economic Calendar
Financial Glossary


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


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help