In July, exports fell 11.6% over the same month last year to USD 24.8 billion. The decline overshot both the 3.2% drop observed in June as well as market expectations of a 7.4% decline. The monthly fall reflected declining shipments in most categories, particularly of information and communication items as well as mineral products. Meanwhile, imports contracted a milder 3.2%, which was an improvement compared to the 8.4% drop recorded in the previous month. As a result, the trade surplus reached USD 904 million in July, down from the USD 3.4 billion surplus recorded in the same month last year and well below market expectations of a USD 2.8 billion surplus. According to the government, the contraction in exports observed this year has been primarily driven by lower demand for electronic products, while adding that the July drop was exacerbated by an unfavourable base effect.
Taiwan Trade Balance
Exports record fifth straight decline
August 7, 2012
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Taiwan Trade Balance Chart
Taiwan Economic News
October 9, 2016
In September, the trade surplus totaled USD 4.4 billion, according to data from the Ministry of Finance.
October 5, 2016
In September, consumer prices increased 0.45% over the previous month, which was a rebound from the 0.03% fall recorded in August.
October 3, 2016
Taiwanese manufacturers registered better business conditions for the fourth consecutive month in September.
September 29, 2016
At its quarterly monetary policy meeting on 29 September, the Central Bank of the Republic of China (Taiwan) decided to leave the discount rate unchanged at 1.375%, which was a decision that markets had expected, although some analysts had foreseen a further reduction to the key policy rate. The Central Bank has cut the main monetary policy rate four times since September 2015 by a total of 50 basis points and this time the authority decided to leave interest rates unchanged “against a back drop of moderate global growth and renewed momentum for the domestic economy, along with a mild inflation outlook for next year.” Regarding global developments and how they affect the Taiwanese economy, the Central Bank stated that the global economy continues to decelerate as a result of slower economic growth in the U.S., a still tepid recovery in the Eurozone economy and sluggish economic activity in Japan.
September 27, 2016
Taiwan’s industrial output increased substantially in August, backed by a base effect but also due to strong growth in semiconductor manufacturers’ output, which benefited from the debut of Apple’s latest iPhone model.