In October, exports contracted 1.9% over the same month last year to USD 26.5 billion. The figure contrasted both the 10.4% increase recorded in September as well as market expectations of a 2.0% rise. The reading marks the seventh contraction seen in the past eight months, after exports briefly recovered in September. The monthly decline mainly reflected lower shipments of basic metals as well as of machinery and electrical equipment. As a result of the monthly reading, in the 12 months up to October, exports contracted 3.0% over the same period the previous year (September: -1.9% year-on-year). Meanwhile, imports contracted 1.8% in October, contrasting the 1.3% rise recorded in September. As a result, imports declined 5.0% in annual terms in the last 12 months (September: -4.0% yoy). The trade balance reached a USD 3.3 billion surplus in October, matching market expectations. As a result, the 12-month moving sum of the trade balance reached a USD 28.3 billion surplus in October, virtually unchanged from the USD 28.4 billion surplus observed in September.
Taiwan Trade Balance
Exports contract again in October
November 8, 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.