Taiwan: Exports steam ahead in April
May 9, 2011
In April, exports increased 24.6% over the same month last year to reach USD 27.3 billion. The increase overshot market expectations that exports would expand 18.0% and was above the 16.7% rise recorded in March. The increase reflected a 28.8% expansion in basic metals, as well as a 38.2% increase in chemicals. The government expects exports to remain strong on the back of resilient global demand for electronic products and surging oil and commodity prices. Meanwhile, imports expanded 25.6%, faster than the 16.7% increase registered in March. These developments saw the trade surplus widen from USD 1.8 billion in March to USD 3.0 billion. Exports continue to steam ahead, as the moving 3-month sum totalled USD 75.8 billion in April, the strongest result on record in USD terms.