Kuwait's trade surplus with Japan widens in august

Kuwait''s trade surplus with Japan widened 61.8 percent in August to JPY 85.06 billion (USD 1.11 billion) from a year earlier, the Finance Ministry said Wednesday. Imports from Japan to Kuwait rose 6.9 percent year-on-year to JPY 10 billion (USD 131 million) for the first expansion in six months, while Kuwait''s exports to the Asian nation jumped 53.6 percent to JPY 95.02 billion (USD 1.25 billion) for the fourth straight month of gain, the ministry said in a preliminary report quoted by Kuwait News Agency (KUNA). Japan is Kuwait''s major trading partner, with two-way trade reaching JPY 1. 026 trillion (USD 13.44 billion) in 2010. The Middle East''s trade surplus with Japan also expanded 62.1 percent to JPY 1.025 trillion (USD 13.43 billion), with Japan''s total imports to the region growing 8.8 percent to JPY 169.43 billion (USD 2.22 billion). Japan-bound exports from the Middle East soared 51.6 percent from a year earlier to JPY 1.195 trillion (USD 15.66 billion), as crude oil and petroleum products, which accounted for 98.2 percent of Middle East''s total imports to Japan, jumped 51.9 percent. Exports totaled JPY 5.357 trillion (USD 70.2 billion), up 2.8 percent, marking the first increase since the March 11 earthquake and tsunami on the back of increasing shipments of automobiles, machinery and ships. While imports also grew 19.2 percent to JPY 6.133 trillion (USD 80.37 billion) for the 20th straight month of on-year growth due to higher energy costs, such as liquefied natural gas