Kuwait's Trade Surplus with Japan Narrows 13th Month

Kuwait's trade surplus with Japan shrank 66.2% from a year earlier to JPY 17.5 billion (USD 164 million) in June, falling for the 13th month in a row, as exports declined more than half, the Japanese Finance Ministry said Monday. 
But Kuwait maintained monthly black ink with Japan for eight years and five months, the ministry said in a preliminary report, carried by Kuwait News Agency (KUNA). 
Kuwaiti overall exports to Japan plunged 54.5% year-on-year to JPY 32.2 billion (USD 303 million) for the 13th straight monthly drop, and imports from Japan also decreased 23.0% to JPY 14.7 billion (USD 138 million), down for the first time in two months. 
Middle East's trade surplus with Japan also narrowed by 42.8% to JPY 320.5 billion (USD 3.0 billion) last month, with Japan-bound exports tumbling 34.7% from a year earlier. Crude oil, refined products, liquefied natural gas (LNG) and other natural resources, which accounted for 94.6% of the region's total exports to Japan, slid 35.2%. The region's overall imports from Japan declined 17.8%, chiefly due to weak shipments of vehicle, steel and machinery.