Taiwan: Trade surplus narrows on surging imports
July 7, 2014
In June, the trade balance incurred a surplus of USD 1.9 billion. The reading was smaller than the USD 3.3 billion surplus registered in the same month last year and undershot the USD 3.7 billion surplus the market had expected. In the 12 months up to June, the trade surplus reached USD 37.0 billion—the smallest in six months.
June’s result showed that imports rebounded strongly, while export growth continued to lose momentum. Imports surged 7.5% in annual terms in June, which contrasted the 2.3% contraction observed in May. Taiwanese shipments abroad increased 1.2% year-on-year, which came in slightly below the 1.4% expansion tallied in May and marked slowest pace since January.
Author: Ricardo Aceves, Senior Economist