HIGHLIGHTS-Japan March exports rise less than expected

TOKYO, April 23 (Reuters) - Japan's exports rose less than
expected in March from a year earlier, trade data showed on
Wednesday, suggesting that companies may be feeling the pinch
from slowing U.S. growth.

Japan logged a trade surplus of 1.1 trillion yen ($10.7
billion) in the month, below economists' forecast for a 1.4
trillion yen surplus. [JPTBAL=ECI]

Following are key points on the data, based on a briefing by
the Ministry of Finance.

-- Export growth slowed to a 2.3 percent rise in March from a
year earlier, slowing from an 8.7 percent increase for the
February year, with shipments to Asia slowing significantly.

-- Japanese luxury vehicles sold well in Russia and Middle
East countries but auto sales fared poorly in the United States.
Exports of electronic parts to the world fell 15.5 percent,
dampening overall exports.

-- Exports to the United States fell 11 percent, the first
double-digit decrease in more than four years and the seventh
straight month of annual declines, on slack demand for
automobiles and autoparts.

-- Exports to Asia rose 1.9 percent, slowing sharply from a
13.8 percent rise in February from a year earlier to mark the
lowest increase since May 2005. Strong exports of steel goods to
South Korea was partly offset by declines in semiconductor
shipments to China.

-- Export growth to China slowed to a 3.2 percent rise from a
14.8 percent increase in February from a year earlier, marking
the lowest growth since June 2005.

-- Overall imports rose 11.1 percent in March from a year
earlier to mark the sixth straight month of increases, as
continued rises in crude oil prices inflated Japan's import
bills.

-- In the fiscal year that ended in March, Japan logged a
trade surplus of 10.22 trillion yen, up 13.4 percent from the
previous year.

-- Exports during the fiscal year rose 9.9 percent, with a
3.1 percent decline in U.S.-bound shipments offset by strong
gains in exports to Asia and Europe.

-- Strong demand for Japanese luxury vehicles and rises in
shipments of cellphone parts boosted exports to China by 15.3
percent, although the rise was slower than a 21.2 percent
increase in the previous fiscal year.

To view full tables, go to the Web site of the Ministry of
Finance here
(Reporting by Leika Kihara)