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Taiwan Trade Balance November 2020

Taiwan: Merchandise exports increase at a quicker pace in November

Merchandise exports soared 12.0% over the same month last year in November (October: +11.2% year-on-year). November’s result marked the strongest expansion since February 2020. Similarly, merchandise imports jumped 10.0% in annual terms in November (October: -1.0% yoy), also marking the best result since February 2020. Meanwhile, export orders—which typically lead actual exports by two to three months—rose 9.1% in October, the latest month for which data is available, suggesting heathy trade momentum going forward.

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 5.3 billion surplus in November (October 2020: USD 7.5 billion surplus; November 2019: USD 4.3 billion surplus). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 55.5 billion surplus in November, compared to the USD 54.5 billion surplus in October.

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