Japan is set to release May trade data on 17 June, expecting 10% y/y growth. This may be result of increase in export growth to the US.
Imports, in contrast, likely to remain sluggish in May, say Standard Chartered. Imports declined 8.4% y/y for the first 20 days of the month and 1.5% y/y for the whole month. The Bank expects the energy import prices to fall further.
According to Standard Chartered estimation, the trade balance will be widened from 53.4bn in April to JPY 258.8bn in May, but the annual trade surplus will be narrowed in 2015.
