Taiwan: Exports register flat growth in November
December 9, 2013
In November, exports were flat over the same month last year, which represented an improvement over the 1.5% contraction tallied in October. The print fell short of the 2.0% expansion that markets had expected. As the Ministry of Finance reported, the reading reflected that the sharp decline in exports of mineral products was offset by increases in overseas sales for most of the remaining categories.
On the other hand, imports contracted 0.5% in November, which was up from the 2.8% drop registered in October. The reading marked the highest level in five months, but contrasted market expectations of a 1.5% increase.
The trade balance recorded a USD 3.5 billion surplus in November, which was the same result as in October. The print was slightly above the USD 3.4 billion surplus registered in the same month last year and matched market expectations of a USD 3.5 billion surplus. In the twelve months up to November, the trade balance surplus amounted to USD 35.9 billion (October: USD 35.7 billion), which marked the highest level since August.
FocusEconomics Consensus Forecast panelists expect exports to grow 2.7% in 2013 and 6.3% in 2014.