3 October 2003, 09:55 Japan Aug c/a surplus seen up 24% as exports rise
TOKYO, Oct 3 - Japan's current account surplus
probably rose about 24 percent in August from the same month a
year earlier as exports picked up and fewer Japanese travelled
abroad, a poll showed on Friday.
The 25 economists surveyed by produced a median
forecast of a 1.3400 trillion yen ($12.09 billion) surplus, up
from 1.0798 trillion yen a year before.
Forecasts ranged from 1.1500 trillion yen to 1.4800 trillion.
The data will be released on Thursday, October 9, at 8:50
a.m. (2350 GMT on October 8).
"Exports, especially to Asia, are strong but the services
deficit is shrinking because of slow growth in overseas travel,"
said Taro Saito, an economist at NLI Research, an arm of insurer
Nippon Life Insurance.
NLI Research forecast a surplus of 1.4175 trillion yen, or a
year-on-year gain of 31.3 percent.
Japan's exports have picked up in recent months, thanks to
recoveries in major markets and strong Chinese demand for
Japanese goods, boosting the trade surplus component of the
current account balance.
At the same time the services deficit continues to shrink as
the number of Japanese travelling abroad has yet to return to the
previous year's level, after declining earlier in the year due to
Asia's SARS virus outbreak and post-Iraq war concerns.//
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