HIGHLIGHTS-Japan April exports rise on firm Asian demand

Wed May 21, 2008 9:40pm EDT
 
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TOKYO, May 22 (Reuters) - Japan's exports rose more than expected in April from a year earlier, trade data showed on Thursday, a sign that strong growth in sales to China and other developing countries is offsetting falling U.S. demand. [JPTBAL=ECI]

Following are key points of the trade data, from a briefing by officials from the Ministry of Finance:

-- The trade surplus fell 46.3 percent in April from a year earlier to 485.0 billion yen ($4.7 billion). That compared with a median forecast from economists for a 19.7 percent fall.

-- Exports rose 4.0 percent in value from a year earlier, while the volume rose 9.9 percent. The difference is partly due to a stronger yen, a ministry official said.

-- Imports rose 11.9 percent in value, while the volume rose 2.6 percent, as a sharp rise in crude oil prices had a big effect.

-- Prices of customs-cleared crude oil averaged 100.7 dollars per barrel in April, up 65.4 percent from the same month in 2007, hitting a record high for the seventh straight month.

-- Exports to the United States fell 9.1 percent in value, the eighth straight month of declines from a year earlier. Shipments of motorbikes fell 49.1 percent and had the biggest impact on the decline.

-- Exports to Asia rose 7.2 percent in April from a year earlier, up from 1.8 percent in March data, due to shipment of a barge for liquified natural gas to Malaysia. However, shipments of electronic devices such as semiconductors to Asia fell 8.5 percent. -- Exports to China rose 14.1 percent due partly to robust shipments of luxury cars and auto parts. Growth in exports to Europe slowed for a third month to 1.3 percent from a year earlier. (Reporting by Yuzo Saeki)

 
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