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.