Taiwan: Exports continue to rise in January
February 7, 2013
In January, exports rose 21.8% over the same month last year. The reading came in well above the 9.0% growth seen in December but below market expectations of a 23.2% increase. Strong exports of electronic and mineral products were the main drivers behind the monthly increase. The 12-month sum of exports up to January grew a mild 0.6% which, nonetheless, represents an improvement over the 2.3% contraction recorded in the same period ending in December.
Meanwhile, imports expanded 22.3% in January, above the 1.6% rise seen in December. The result prompted the moving 12-month sum of imports up to January to fall 1.2% (December: -3.8% year-on-year).
Finally, the trade balance recorded a USD 47.1 million surplus in January, surprising the market on the downside, as analysts expected a USD 3.6 billion surplus. As a result, in the 12 months up to January, the trade surplus was unchanged at December's USD 30.4 billion.