Taiwan: Export growth moderates slightly in January
February 11, 2011
In January, exports increased 16.6% over the same month the year before to reach USD 25.4 billion, the second highest level on record. While the increase was below the 19.1% rise recorded in December, it overshot market analyst expectations that exports would expand 15.0%. The strong result reflected an 18.2% year-on-year expansion in exports of electronic products (December: +20.5%). Basic metal exports continued to expand strongly, rising 23.3% (December: +22.6% yoy), while plastics and rubber exports increased 17.2% (December: +25.7% yoy). Meanwhile, imports expanded 22.1% in January, virtually unchanged from the 21.4% increase in December. As a result, the trade surplus widened from USD 1.6 billion in December to USD 1.9 billion. The strong recovery observed throughout last year saw exports rise to pre-crisis levels. The moving 3-month sum totaled USD 73.6 billion in January, which came in above the peak reached in August 2008.