Latest news with #tradebalance
NHK
5 days ago
- Business
- NHK
Japan loses world's top creditor status to Germany
Japan is no longer the world's top creditor. That title goes to Germany, after Japan slipped from the number-one spot for the first time in 34 years, even with its net overseas assets at a record high. The Finance Ministry says the net figure at the end of last year increased almost 13 percent to 533.5 trillion yen, or over 3.7 trillion dollars. Germany comes in at 569.6 trillion yen. The country continues to post trade surpluses and now has the world's largest net overseas assets in yen terms. China is third after Japan. The figure is calculated by subtracting the value of assets held in a country by foreign entities from the value of assets the country's government, companies and individuals own abroad. Japan's overseas assets stand at 1,659 trillion yen, or over 11.6 trillion dollars. Japanese businesses stepped up their direct investment in the United States and the Netherlands. A weaker yen boosted the assets' value in yen terms. Japan's overseas liabilities also rose, up for a sixth straight year to 1,125 trillion yen, or about 7.9 trillion dollars. 2024 was also the sixth year in a row for Japan's net overseas assets to hit a record high.
Zawya
5 days ago
- Business
- Zawya
Saudi Arabia's non-oil exports rise 10.7% in March
RIYADH — Data released by Saudi Arabia's General Authority for Statistics (GASTAT) showed that the country's non-oil exports, including re-exports, increased by 10.7% to approximately SR27.04 billion in March 2025, compared to a year earlier While non-oil national exports excluding re-exports rose by 6.7% to SR18.6 billion, the value of re-exported goods rose by 21% during the same period. Commodity exports declined by 9.8% in March 2025 to SR93.78 billion, compared to March 2024, due to a 16.1% decline in petroleum exports to SR 66.74 billion. The share of oil exports in total exports decreased from 76.5% in March 2024 to 71.2% in March 2025. Imports increased by 0.1% to SR73.99 billion in March 2025. Looking at the merchandise trade balance, the surplus decreased by 34.2% to SR19.79 billion compared to March 2024. Saudi Arabia's International Trade Bulletin for the first quarter of 2025 revealed that non-oil exports, including re-exports, increased by 13.4% to SR80.73 billion, compared to the first quarter of 2024. Non-oil national exports (excluding re-exports) also rose by 9% to SR54.12 billion, and the value of re-exported goods also rose by 23.7% to SR26.6 billion during the same period. Commodity exports decreased by 3.2% in the first quarter of 2025 to SR285.79 billion compared to the first quarter of 2024, due to an 8.4% decline in petroleum exports to SR205.06 billion. The share of oil exports in total exports decreased from 75.9% in the first quarter of 2024 to 71.8% in the first quarter of 2025. Imports increased by 7.3% in the first quarter of 2025 to SR222.74 billion. Looking at the merchandise trade balance, the surplus decreased by 28% to SR63.05 billion compared to the first quarter of 2024. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
23-05-2025
- Business
- Zawya
Jordan's oil bill drops 6.4% in Q1 2025
AMMAN — The Kingdom's oil bill declined by 6.4 per cent in the first quarter of 2025, according to foreign trade data released by the Department of Statistics (DoS) on Thursday. The report, cited by Al Mamlaka TV, showed that the value of the Kingdom's imports of crude oil, petroleum products and mineral oils reached JD770 million during the first quarter of this year, down from JD821 million in the same period of 2024. The figures showed that national exports rose by 11.7 per cent and re-exports by 10.4 per cent, resulting in overall export growth of 11.6 per cent compared to the first quarter of last year. The DoS' monthly foreign trade report noted that this export growth was accompanied by a 6.6 per cent increase in imports, which led to a 2.2 per cent rise in the trade deficit in Q1 2025 compared to the same period in 2024. Total exports during the first three months of the year amounted to JD2.306 billion, including JD2.093 billion in national exports and JD213 million in re-exports. Imports reached JD4.679 billion for the same period. Jordan's trade deficit, the difference between total exports and imports, increased to JD2.373 billion in Q1 2025, up from JD2.323 billion in the same period of 2024. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Jordan Times
22-05-2025
- Business
- Jordan Times
Kingdom's oil bill drops 6.4% in Q1 2025
The Department of Statistics on Thursday says that the value of the Kingdom's imports of crude oil, petroleum products and mineral oils reached JD770 million during the first quarter of this year (File photo) AMMAN — The Kingdom's oil bill declined by 6.4 per cent in the first quarter of 2025, according to foreign trade data released by the Department of Statistics (DoS) on Thursday. The report, cited by Al Mamlaka TV, showed that the value of the Kingdom's imports of crude oil, petroleum products and mineral oils reached JD770 million during the first quarter of this year, down from JD821 million in the same period of 2024. The figures showed that national exports rose by 11.7 per cent and re-exports by 10.4 per cent, resulting in overall export growth of 11.6 per cent compared to the first quarter of last year. The DoS' monthly foreign trade report noted that this export growth was accompanied by a 6.6 per cent increase in imports, which led to a 2.2 per cent rise in the trade deficit in Q1 2025 compared to the same period in 2024. Total exports during the first three months of the year amounted to JD2.306 billion, including JD2.093 billion in national exports and JD213 million in re-exports. Imports reached JD4.679 billion for the same period. Jordan's trade deficit, the difference between total exports and imports, increased to JD2.373 billion in Q1 2025, up from JD2.323 billion in the same period of 2024.
Malay Mail
22-05-2025
- Business
- Malay Mail
Anwar says US will ‘sympathetically' review Malaysia's tariff appeal as China ties deepen
KUALA LUMPUR, May 22 — Datuk Seri Anwar Ibrahim said yesterday that the United States has pledged to 'sympathetically' review Malaysia's appeal for lower export tariffs, even as Putrajaya forges closer ties with China. The prime minister's remarks come as Malaysia seeks to reduce tariffs on its exports to the US — currently set at 24 per cent following measures imposed during Donald Trump's presidency — to zero. In return, Washington is asking Kuala Lumpur to address trade imbalances, ease non-tariff barriers, and ensure US tech isn't redirected elsewhere. 'The United States has promised to look at it sympathetically and review and keep us posted,' Anwar was quoted by Bloomberg as saying in Putrajaya last night. Despite the high-stakes negotiations, Anwar stressed that Malaysia is unbothered by balancing diplomacy with Beijing. His comments follow a state visit by Chinese President Xi Jinping in mid-April, during which both nations signed 31 deals — just a week before talks began with US trade representatives. 'At the height of this negotiation with United States, we welcomed President Xi Jinping. We have no qualms about it,' Anwar added. 'We were glad that he was never raised as an issue with the United States.' Malaysia, which holds the rotating chair of Asean this year, is also preparing to host a new summit next week that brings together the South-east Asian bloc, China, and key Middle Eastern partners. Chinese Premier Li Qiang is expected in Kuala Lumpur for the event. But Malaysia has also found itself in the crosshairs of US-China tensions. This week, it initially announced a pioneering AI project using chips from China's Huawei Technologies — a company under heavy US scrutiny — before walking back the statement. The Ministry of Investment, Trade and Industry (Miti) later clarified the initiative was privately led. 'As a policy, we made it very clear we are fiercely independent,' Anwar reportedly said. 'We want what is best for our country.'
