Imports and exports are expected to rise to new highs for a third straight year in fiscal 2004, a trade industry association said Wednesday.
Exports are projected to hit 54.98 trillion yen in fiscal 2004, up 4.2 percent from the estimated 52.77 trillion yen for fiscal 2003.
Meanwhile, imports are expected to rise to 2.7 percent to 41.47 trillion yen, from 40.39 trillion yen in fiscal 2003, the Japan Foreign Trade Council said.
Exports are likely to increase as demand for digital home appliances and personal computers will remain strong in the United States and China.
Brisk demand for semiconductor-manufacturing equipment will also boost exports.
The growth of imports will be led by imports of office automation equipment and digital home appliances made overseas by Japanese manufacturers, the association said.
With exports surpassing imports, the current-account surplus is expected to rise 2.7 percent to an all-time high of 16.88 trillion yen.
The JFTC, which represents trading houses and organizations, compiled the trade forecasts from replies submitted by 15 member companies to its November survey.