Taiwan: Exports continue to grow robustly in December
January 7, 2011
In December, exports increased 19.1% over the same month the year before to reach USD 23.8 billion. The increase was below both the 21.8% rise recorded in November and market expectations of a 20.0% expansion. The strong result reflected a 20.5% year-on-year expansion in exports of electronic products, accelerating from the 16.4% expansion recorded in November. Exports of basic metals slowed, but still expanded 22.6% (November: +25.9% yoy), while plastics and rubber exports increased 25.7% (November: +32.1% yoy). Meanwhile, imports decelerated markedly from a 33.8% expansion in November to a 21.4% increase in December. As a result, the trade surplus widened from USD 0.4 billion in November to USD 1.6 billion. The strong recovery observed throughout the year saw exports rise to pre-crisis levels. The moving 3-month sum of USD 72.4 billion in December, matched the peak reached in August 2008.