Taiwan Trade Balance October 2020

Taiwan

Taiwan: Merchandise exports accelerate in October

November 9, 2020

Merchandise exports jumped 11.2% annually in October, following September’s 9.4% increase. October´s outturn marked the strongest expansion since February 2020. Meanwhile, merchandise imports fell 1.0% over the same month last year in October (September: -5.4% yoy).

As a result, the merchandise trade balance improved, recording a USD 7.5 billion surplus in October (October 2019: USD 4.0 surplus; September 2020: USD 7.1 billion surplus). Meanwhile, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 54.5 billion surplus in October, compared to the USD 51.0 billion surplus in September.

Lastly, export orders—which typically lead actual exports by two to three months— 9.9% in September, the latest month for which data is available, suggesting healthy trade momentum going forward.

FocusEconomics panelists forecast that exports will expand 3.1% in 2021 and imports will rise 5.0%, bringing the trade surplus to USD 42.0 billion. In 2022, our panel expects exports to shrink 1.0% and imports will dip 3.0%, pushing up the trade surplus to USD 47.2 billion.


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Taiwan Trade Balance Chart


Taiwan Trade12m October 20 20

Note: 12-month sum of trade balance in USD billion and annual average variation of the 12-month sum of exports and imports.
Source: Ministry of Finance (MoF) and FocusEconomics calculations.


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