Taiwan: Exports grow at a slower pace in July
August 8, 2013
In July, exports expanded 1.6% over the same month last year, which was well below the 8.6% rise seen in June. The print undershot market expectations of a 4.9% increase. The expansion mainly reflected increases in exports of electronic products, plastics and rubber, as well as in optical and photographic instruments.
Imports contracted 7.6% in July, which contrasted the 6.8% rise tallied in June.
The trade balance recorded a USD 3.2 billion surplus in July, broadly in line with market expectations of a USD 3.2 billion surplus.
FocusEconomics Consensus Forecast panellists expect exports to grow 4.3% in 2013 and 8.7% in 2014.