World trade in 1988 will reach $2.72...

World trade in 1988 will reach $2.72 trillion on a custom clearance basis, up 4.1% in real terms from 1987, the Japan External Trade Organization predicted. A JETRO official said Japan’s imports are expected to rise by 10.3% from 1987 to $141.5 billion in 1988, and those of the EEC by 6.1% to $765.1 billion. The report predicted that U.S. exports would increase by 18.2% in real terms to $275.6 billion in 1988. U.S. imports, however, were expected to grow only 1.2% in real terms, to $357.1 billion. The forecast was made on the assumptions of the dollar averaging 135 yen in 1988, crude oil averaging $18 a barrel, the United States’ GNP growing 1.9% and Japan’s growing 4.0%.