Kuwait Exports to Japan Plunge 61%

Kuwait's exports to Japan plunged 60.8% yearـonـyear to US$76.5 million in October 2009, while imports from Japan fell 49.8% US$140.0 million, the Finance Ministry said.

Japan's trade deficit with Kuwait narrowed 62.6% in October 2009 to US$624.8 million from a year earlier, posting the red ink figure for the 21st straight month, but shrank for the 12nd in a row, the ministry said in a preliminary report.

Japan is Kuwait's top oil buyer with accounting for 20% of its total crude exports, while the nation is the thirdـbiggest exporter to Kuwait after the US and Germany. - AlWatan