Kuwait's Annual Exports to Japan Jump by 52.3%

Japan's trade deficit with Kuwait widened for the third straight month in January 2010, with exports from Kuwait riding more than 50% year-on-year, the Finance Ministry said.

Kuwait's exports to the world's second-largest economy grew 52.3% from a year earlier to US$64.5 million, while imports from Japan plunged 21.0% to US$10.8 million, the ministry said in a preliminary report.

As a result, Japan's trade deficit with Kuwait soared 60.6% from a year earlier to US$53.8 million in January 2010, marking the red ink figure for the 24^th straight month. Japan is Kuwait's major trading partner, with two-way trade reaching US$10.53 billion in 2009. - Kuwait Times