Taiwan Trade


Trade surplus jumps in May, but exports slow

In May, the trade surplus rose to USD 5.3 billion. The print was greater than the USD 4.4 billion registered in the same month last year and exceeded USD 2.9 billion surplus the market had expected.

May’s result showed that exports expanded, although growth was weaker than in April. Conversely, imports contracted in May. Overseas sales increased 1.4% annually in May, which came in well below both the 6.2% expansion registered in April and the 4.5% increase the markets had expected. Imports contracted 2.3% year-on-year in May, which contrasted the 5.8% increase tallied in April and the markets’ expectation of a 10.2% expansion.

The government expects exports to increase 3.3% this year. FocusEconomics Consensus Forecast panelists expect exports to grow 4.0% in 2014 and 6.6% in 2015.

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Taiwan Trade Chart

Taiwan Trade12m May 2014

Note: 12-month sum of trade balance in USD billion and annual average variation of the 12-month sum of exports and imports.
Source: Directorate-General of Budget, Accounting & Statistics (DGBAS) and FocusEconomics calculations.

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