18 June 2004, 10:10  Japan May trade surplus seen +37.8% y/y

Japan's trade surplus was likely higher in May than the same month a year ago due to a rise in exports of products such as cars and digital electronics to China and other markets, a poll found on Friday. The median forecast from 25 economists was for a 950 billion yen ($8.68 billion) surplus, up 37.8 percent from the same month last year on an unadjusted basis.
Exports likely rose a median 11.0 percent and imports probably gained 6.3 percent, the poll showed. "Exports are continuing to rise as the global economy recovers, and in May we saw a pick-up in car exports to the United States," said Toru Sakane, economist at BNP Paribas. He forecast a 39.4 percent rise in the trade surplus.////

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